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Archive
- 11/8/2024 -
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Prudential Financial (PRU) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was a first positive week for the Prudential Financial (PRU). During the week, the PRU climbed 0.60 points, or 0.49%, and closed at 121.90 on Friday, November 8, 2024. Weekly volume was 52% above 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 uptrend had started on March 24, 2023 at 75.37 and reached 129.10 on November 6, 2024. PRU gained -53.73 points, or -71.29%, in 84 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 110.18 and resistance is at 139.76. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See PRU medium-term trend chart]
A medium-term uptrend had started on August 5, 2024 at 104.45 and reached 129.10 on November 6, 2024. PRU gained -24.65 points, or -23.60%, in 13 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 118.79 and resistance is at 130.80. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See PRU weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since October 11, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 November 5, 2024 at 119.10 and reached 129.10 on November 6, 2024. PRU gained -10.00 points, or -8.40%, in 1 days. The price is now at the 72.00% retracement level.
 Daily Technical Indicators: [See PRU daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since October 24, 2024. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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