Prudential plc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Prudential plc stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Prudential plc stock price fell by -4.32% on the last day (Tuesday, 30th Apr 2024) from HK$72.95 to HK$69.80. During the last trading day the stock fluctuated 6.30% from a day low at HK$69.05 to a day high of HK$73.40. The price has risen in 8 of the last 10 days and is up by 3.79% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -561 thousand shares and in total, 371 thousand shares were bought and sold for approximately HK$25.90 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -15.43% during the next 3 months and, with a 90% probability hold a price between HK$54.97 and HK$61.60 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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2378.HK Signals & Forecast
There are mixed signals in the stock today. The Prudential plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$71.60 and HK$73.34. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.79%. 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).
Support, Risk & Stop-loss for Prudential plc stock
Prudential plc finds support from accumulated volume at HK$69.60 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 HK$4.35 between high and low, or 6.30%. For the last week, the stock has had daily average volatility of 3.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2378.HK) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Prudential plc to open at HK$70.75, and during the day (based on 14 day Average True Range), to move between HK$67.74 and HK$71.86, which gives a possible trading interval of +/-HK$2.06 (+/-2.95%) up or down from last closing price. If Prudential plc takes out the full calculated possible swing range there will be an estimated 5.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$69.60 (0.29%) than the resistance at HK$72.95 (4.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Prudential plc stock A Buy?
Prudential plc 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: -4.036 Sell Candidate Downgraded
Predicted Opening Price for Prudential plc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| HK$70.75 ( 1.36%) | HK$69.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2378.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 75.10 | 7.59 % | |
| R2 | 73.44 | 5.21 % | ||
| R1 | 72.41 | 3.74 % | ||
| Current price: | 69.80 | |||
| Support | S1 | 69.09 | -1.02 % | |
| S2 | 68.06 | -2.49 % | ||
| S3 | 66.40 | -4.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 80.25 | 14.97 % | |
| R2 | 80.20 | 14.90 % | ||
| R1 | 72.95 | 4.51 % | ||
| Current price | 69.80 | |||
| Support | S1 | 69.60 | -0.287% | |
| S2 | 69.10 | -1.00% | ||
| S3 | 69.00 | -1.15% |
2378 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | May 16, 2024 | HK$1.12 | 1.61% |
| 2 | Mar 23, 2023 | Mar 23, 2023 | Mar 23, 2023 | HK$1.02 | 0.99% |
| 3 | Aug 10, 2022 | Aug 18, 2022 | Sep 27, 2022 | HK$0.450 | 0.559% |
| 4 | Mar 24, 2022 | Mar 24, 2022 | Mar 24, 2022 | HK$0.93 | 0.82% |
| 5 | Aug 19, 2021 | Aug 19, 2021 | Aug 19, 2021 | HK$0.418 | 0.268% |
FAQ
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