PRU closes higher for the 3rd day in a row


Prudential Financial (PRU) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
PRU dominated by bulls lifting the market higher throughout the day
PRU closes higher for the 3rd day in a row
PRU ends the day on a bullish note closing near the high of the day
PRU pushes through previous session high
PRU rises to highest close since May 1st
TQ Sentiment
Report Sentiment: 60% Bullish
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, PRU finished Thursday at 102.61 gaining $1.44 (1.42%). Today's closing price of 102.61 marks the highest close since May 1st. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 101.73, the market confirms its breakout through the previous session's high having traded $1.26 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for PRU
Volatility

Thursday's trading range was $2.17 (2.15%), that's slightly below last trading month's daily average range of $2.21. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Trend

Though the share is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Conclusion

While classical technical analysis indicates a slightly bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Prudential Financial
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
Bullish Break through SMA 20 TQ Pro Members Only
White Candle TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
Bullish Short Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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