Exploring PRUDENTIAL FINANCIAL INC's Technical Signals and Breakout Potential.

We've identified PRUDENTIAL FINANCIAL INC (NYSE:PRU) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:PRU for further developments.

What is the technical picture of NYSE:PRU telling us.

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

Overall PRU gets a technical rating of 10 out of 10. Both in the recent history as in the last year, PRU has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, PRU did better than 73% of all other stocks. We also observe that the gains produced by PRU over the past year are nicely spread over this period.
• PRU is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month PRU has a been trading in the 103.28 - 110.12 range, which is quite wide. It is currently trading near the high of this range.
• Prices have been consolidating recently, this may present a good entry opportunity.
• PRU is part of the Insurance industry. There are 142 other stocks in this industry, PRU did better than 68% of them.

Our latest full technical report of PRU contains the most current technical analsysis.

Looking at the Setup

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NYSE:PRU is 9:

PRU has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 109.62. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 108.42, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading setups like NYSE:PRU

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

More breakout setups can be found in our Breakout screener.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.