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Downtrend ExhaustionArchive
- 4/26/2024 -
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Principal Financial Group (PFG) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Principal Financial Group (PFG). During the week, the PFG dropped -1.32 points, or -1.64%, and closed at 79.12 on Friday, April 26, 2024. Weekly volume was -13% below average.
PFG 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 PFG long-term trend chart]
A long-term downtrend had started on November 11, 2022 at 96.17 and reached 65.17 on May 31, 2023. PFG lost 31.00 points, or 32.23%, in 28 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (67.49) 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 PFG medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 66.21 and reached 86.79 on April 4, 2024. PFG gained -20.58 points, or -31.08%, in 23 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (83.96) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. PFG may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.
 Weekly Technical Indicators: [See PFG weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
 Short-term trend: [See PFG short-term trend chart]
A short-term downtrend had started on April 4, 2024 at 86.79 and reached 77.26 on April 26, 2024. PFG lost 9.53 points, or 10.98%, in 22 days. The price is now at the 19.52% retracement level.
 Daily Technical Indicators: [See PFG daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish 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 daily MACD line is below its signal line since April 4, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
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