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Housewares & Specialties Industry Stocks Technical Analysis - PRUArchive
- 4/19/2024 -
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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 0.92 points, or 0.84%, and closed at 110.61 on Friday, April 19, 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 (53.24) is broken. A broken support is considered to be a long-term bullish signal. 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 118.69 on April 4, 2024. PRU gained -30.74 points, or -34.95%, in 22 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (111.11) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
 Weekly Technical Indicators: [See PRU weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 November 24, 2023. 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 downtrend had started on April 4, 2024 at 118.69 and reached 106.79 on April 17, 2024. PRU lost 11.90 points, or 10.03%, in 13 days. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (104.21) is broken. A broken support is considered to be a long-term bullish signal. 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 short-term trend.
 Daily Technical Indicators: [See PRU daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since April 3, 2024. This is an indication that the short-term trend is down.
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. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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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