Prudential Financial Inc Stock Forecast
Evaluation of Prudential Financial Inc stock downgraded after the last trading session.
(Updated on Apr 23, 2024)
The Prudential Financial Inc stock price gained 0.98% on the last trading day (Tuesday, 23rd Apr 2024), rising from £735.40 to £742.60. During the last trading day the stock fluctuated 2.98% from a day low at £726.00 to a day high of £747.60. The price has risen in 6 of the last 10 days and is up by 3.08% over the past 2 weeks. Volume fell on the last day by -7 million shares and in total, 4 million shares were bought and sold for approximately £3.28 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at £752.30 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -15.03% during the next 3 months and, with a 90% probability hold a price between £574.97 and £639.23 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PRU.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 8.03%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Prudential Financial Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £748.93. On a fall, the stock will find some support from the short-term average at £716.00. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Prudential Financial Inc stock
Prudential Financial Inc finds support from accumulated volume at £722.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £21.60 between high and low, or 2.98%. For the last week, the stock has had daily average volatility of 2.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PRU.L) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Prudential Financial Inc to open at £738.73, and during the day (based on 14 day Average True Range), to move between £722.61 and £762.59, which gives a possible trading interval of +/-£19.99 (+/-2.69%) up or down from last closing price. If Prudential Financial Inc takes out the full calculated possible swing range there will be an estimated 5.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £755.80 (1.78%) than the support at £722.00 (2.77%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Prudential Financial Inc stock A Buy?
Prudential Financial Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.340 Sell Candidate Downgraded
Predicted Opening Price for Prudential Financial Inc of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
£738.73 ( 0.521%) | £742.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRU.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 760.33 | 2.39 % | |
R2 | 752.08 | 1.28 % | ||
R1 | 746.98 | 0.590 % | ||
Current price: | 742.60 | |||
Support | S1 | 730.48 | -1.63 % | |
S2 | 725.38 | -2.32 % | ||
S3 | 717.13 | -3.43 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 814.60 | 9.70 % | |
R2 | 761.20 | 2.50 % | ||
R1 | 755.80 | 1.78 % | ||
Current price | 742.60 | |||
Support | S1 | 722.00 | -2.77% | |
S2 | 720.40 | -2.99% | ||
S3 | 712.00 | -4.12% |
PRU Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 28, 2024 | Mar 28, 2024 | May 16, 2024 | £11.28 | 1.52% |
2 | Mar 23, 2023 | Mar 23, 2023 | Mar 23, 2023 | £10.46 | 0.98% |
3 | Aug 10, 2022 | Aug 18, 2022 | Sep 27, 2022 | £4.98 | 0.545% |
4 | Mar 09, 2022 | Mar 24, 2022 | May 13, 2022 | £9.44 | 0.98% |
5 | Aug 11, 2021 | Aug 19, 2021 | Sep 28, 2021 | £3.89 | 0.274% |
FAQ
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