Prudential Financial Inc Stock Forecast

Prudential Financial Inc stock upgraded from Sell Candidate to Buy Candidate after Wednesday trading session.
(Updated on May 01, 2024)

PRU Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.61%. 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 is rising along with the price. This is considered to be a good technical signal. 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 $113.02. On a fall, the stock will find some support from the short-term average at $111.60. 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 $111.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $4.69 (4.30%) between high and low. For the last week, the stock has had daily average volatility of 1.89%.

Our recommended stop-loss: $106.67 (-5.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (PRU) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Prudential Financial Inc to open at $111.63, and during the day (based on 14 day Average True Range), to move between $110.37 and $114.23, which gives a possible trading interval of +/-$1.93 (+/-1.72%) up or down from last closing price. If Prudential Financial Inc takes out the full calculated possible swing range there will be an estimated 3.44% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $112.84 (0.48%) than the support at $111.74 (0.50%), 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?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Prudential Financial Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.212 Buy Candidate Upgraded

Predicted Opening Price for Prudential Financial Inc of Thursday, May 2, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.