Prudential Financial Inc. - (PRU) - March 25, 2021

by SIACharts.com

With gains of 5 spots yesterday and 44 spots in the last month, insurer Prudential Financial (PRU) has returned to the Green Favored Zone of the SIA S&P 500 Index Report for the first time since the summer of 2017.

Over the last year, a steady uptrend has emerged in Prudential Financial (PRU) built on a series of consistently higher lows and positive breakout signals including the completion of a bullish Ascending Triangle over $70.00 back in November, and the snapping of a downtrend line near $82.50 in February.

Currently the shares are trading near $90.00 with initial resistance possible at the top of a previous $70.00 to $95.00 trading range, followed on trend by the $100.00 round number, and then the $105.00 to $109.00 range where the shares 2018 peak and a measured move from the triangle converge. Initial support appears near $82.50 where an underlying bullish trend support line and a recent breakout point retest converge.

Although Prudential Financial (PRU) shares have slipped back in the last few days, so far this has only been a minor correction within an upward trend that started about a year ago. The current High Pole Remains intact and several of the positive pattern breakouts over the last several months remain active including multiple Double Tops, a Spread Double Top and a Spread Triple Top

Initial upside resistance on trend appears at previous column highs near $96.85, followed by the $100.00 round number, $104.85 where vertical/horizontal counts converge, and $109.10 where the 2018 peak and a horizontal count converge. Initial support appears near $86.00 based on a 3-box reversal, followed by $82.65, a recent breakout point.

With a bullish SMAX score of 8, PRU is exhibiting near-term strength against the asset classes.

 
 
 

Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.

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