📍 Ticker: PCG (Pacific Gas & Electric Co.)
📆 Timeframe: 1W (Weekly)
💡 Pattern: Head & Shoulders Formation – Testing Neckline & Long-Term Support
📉 Price: $13.87 (current weekly level)
📊 Volume: 78M
📉 RSI: 33.7 → oversold zone brewing
🔍 What the Chart is Showing
PCG is in the late stages of a Head & Shoulders pattern, but the right shoulder is still developing. Price is now pressing into a critical confluence area where multiple factors intersect:
✅ Neckline zone from the potential H&S structure
✅ Multi-year ascending trendline support (2020 origin)
✅ Horizontal support cluster from 2022–2023 consolidation
✅ Weekly RSI hovering near oversold, hinting at possible bullish divergence
Importantly, the H&S is not yet confirmed – it would require a decisive weekly close below the neckline to trigger a textbook breakdown.
🧠 Swing Trade Scenarios
➡️ Bullish Reversal Scenario (Failed Breakdown)
🟢 Entry Zone: $13.60–$14.00
🎯 Target 1: $14.62 (initial resistance pivot) - close 30-70% of the position
🎯 Target 2: $17.80–$18.50 (major resistance) - close the another 30-70% of the position.
⛔️ Stop-Loss 1: Close below $13.20 (neckline break confirmation)
➡️ Bearish Breakdown Scenario (Pattern Confirmation)
❌ If PCG closes below $13.20 on the weekly, it confirms the H&S → opens downside toward $11.50 (the lowest trendline support)
⚠️ What Makes This Week Critical
📌 A hammer-like candle is forming – but needs a strong weekly close to indicate buyer absorption
📌 A close above $14.00 would weaken the H&S formation, hinting at a failed pattern
📌 A close below $13.20 would confirm the bearish continuation
This is a decision zone: either the right shoulder fails, triggering a deeper swing lower, or buyers defend and negate the pattern.
💬 Will PCG confirm the weekly H&S breakdown or trap bears with a failed pattern bounce?
✅ This week’s close will define the next major swing move!
LIKE & FOLLOW for more professional swing setups with clean risk/reward.
#PCG #SwingTrade #Utilities #TargetTraders #TechnicalAnalysis #HeadAndShoulders
📆 Timeframe: 1W (Weekly)
💡 Pattern: Head & Shoulders Formation – Testing Neckline & Long-Term Support
📉 Price: $13.87 (current weekly level)
📊 Volume: 78M
📉 RSI: 33.7 → oversold zone brewing
🔍 What the Chart is Showing
PCG is in the late stages of a Head & Shoulders pattern, but the right shoulder is still developing. Price is now pressing into a critical confluence area where multiple factors intersect:
✅ Neckline zone from the potential H&S structure
✅ Multi-year ascending trendline support (2020 origin)
✅ Horizontal support cluster from 2022–2023 consolidation
✅ Weekly RSI hovering near oversold, hinting at possible bullish divergence
Importantly, the H&S is not yet confirmed – it would require a decisive weekly close below the neckline to trigger a textbook breakdown.
🧠 Swing Trade Scenarios
➡️ Bullish Reversal Scenario (Failed Breakdown)
🟢 Entry Zone: $13.60–$14.00
🎯 Target 1: $14.62 (initial resistance pivot) - close 30-70% of the position
🎯 Target 2: $17.80–$18.50 (major resistance) - close the another 30-70% of the position.
⛔️ Stop-Loss 1: Close below $13.20 (neckline break confirmation)
➡️ Bearish Breakdown Scenario (Pattern Confirmation)
❌ If PCG closes below $13.20 on the weekly, it confirms the H&S → opens downside toward $11.50 (the lowest trendline support)
⚠️ What Makes This Week Critical
📌 A hammer-like candle is forming – but needs a strong weekly close to indicate buyer absorption
📌 A close above $14.00 would weaken the H&S formation, hinting at a failed pattern
📌 A close below $13.20 would confirm the bearish continuation
This is a decision zone: either the right shoulder fails, triggering a deeper swing lower, or buyers defend and negate the pattern.
💬 Will PCG confirm the weekly H&S breakdown or trap bears with a failed pattern bounce?
✅ This week’s close will define the next major swing move!
LIKE & FOLLOW for more professional swing setups with clean risk/reward.
#PCG #SwingTrade #Utilities #TargetTraders #TechnicalAnalysis #HeadAndShoulders
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Penafian
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.