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Uptrend Broken SupportArchive
- 4/26/2024 -
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Prudential Financial (PRU) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Prudential Financial (PRU). During the week, the PRU gave back -0.11 points, or -0.10%, and closed at 110.50 on Friday, April 26, 2024. Weekly volume was -29% 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 (52.83) 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 uptrend support line (112.08) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.
 Weekly Technical Indicators: [See PRU 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 PRU short-term trend chart]
A short-term uptrend had started on April 17, 2024 at 106.79 and reached 112.92 on April 24, 2024. PRU gained -6.13 points, or -5.74%, in 7 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See PRU daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish 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 daily MACD line is below its signal line since April 3, 2024. The distance between MACD and the signal line is low and getting smaller.
A Parabolic SAR (stop and reversal) indicator (109.57) comes close to the price (110.50). It indicates that the trend is getting weaker. 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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