The Greedy Trader Weekly Analysis
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Downtrend Resistance
Downtrend Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Downtrend Resistance stock alert indicates that price is near long-term resistance trendline and probability of short-term trend reversal is high.

The strategy is based on selling long (or taking short) position on downtrend testing resistance. The strategy has low to medium risk and average reword.

Downtrend Resistance

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- 3/15/2024 -
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Prudential Financial (PRU) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are overboughtLane's Stochastic and MACD bearish divergenceBroken trend resistance line
Daily :Lane's Stochastic is overbought
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It was a second consecutive positive week for the Prudential Financial (PRU). During the week, the PRU gained 1.74 points, or 1.57%, and closed at 112.84 on Friday, March 15, 2024. Weekly volume was -17% below average.

PRU is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See PRU long-term trend chart]
A long-term downtrend had started on February 10, 2022 at 124.22 and reached 75.37 on March 24, 2023. PRU lost 48.85 points, or 39.33%, in 58 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (54.90) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. PRU may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See PRU medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 87.95 and reached 113.51 on March 13, 2024. PRU gained -25.56 points, or -29.06%, in 19 weeks. Price is near the trend high.

Weekly Technical Indicators: [See PRU weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 24, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See PRU short-term trend chart]
A short-term uptrend had started on February 20, 2024 at 106.14 and reached 113.51 on March 13, 2024. PRU gained -7.37 points, or -6.94%, in 22 days. The price is now at the 9.09% retracement level.

Daily Technical Indicators: [See PRU daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic.

The daily MACD line is above its signal line since March 5, 2024. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.60
Williams' Percentage Range (W%R) 36.40
Lane's Stochastic (%D-Slow) 87.50
Overbought
Greed/Fear Indicator (GFI) 75.24
Moving Average Converg./Diverg. (MACD) 1.45
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 78.62
Williams' Percentage Range (W%R) 10.50
Overbought
Lane's Stochastic (%D-Slow) 80.89
Overbought Bearish
Greed/Fear Indicator (GFI) 76.24
Moving Average Converg./Diverg. (MACD) 3.41 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 113.50
Price 112.84
Daily Stochastic Crossing 112.77
Weekly Stochastic Crossing 111.35
20 Day Moving Average 109.32
Parabolic System 109.11
50 Day Moving Average 106.55
Lower Bollinger Band 105.68
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Life & Health Insurance 66
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 106.14
Low Date 02/20/2024
High 113.51
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 100.60
Low Date 02/01/2024
High 113.51
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 87.95
Low Date 10/27/2023
High 113.51
High Date 03/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 75.37
Low Date 03/24/2023
High 113.51
High Date 03/13/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 81.73
Support 54.90
High 124.22
High Date 02/10/2022
Low 75.37
Low Date 03/24/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.