PRU.L closes within prior day's range


Prudential plc (PRU.L) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
PRU.L breaks below 50-day moving average
PRU.L unable to break through key resistance level
PRU.L fails to close above 50-day moving average
PRU.L closes higher for the 2nd day in a row
PRU.L closes within previous day's range
TQ Sentiment
Report Sentiment: 42% Bearish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, PRU.L finished Thursday at 1864.50 gaining £0.50 (0.03%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for PRU.L
Volatility

Thursday's trading range was £51.00 (2.75%), that's far above last trading month's daily average range of £31.07. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Price Action

In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bullish Outside Bar.

Support/Resistance

Unable to break through the key technical resistance level at 1868.00, the market closed below it after spiking as high as 1886.00 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After spiking up to 1886.00 during the day, the share found resistance at the 50-day moving average at 1865.11.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already. The stock broke below the 50-day moving average at 1865.11 today for the first time since June 12th.

Conclusion

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

Market Conditions for Prudential plc
Condition Forecast Direction Win Avg Worst Best Events
3 Consecutive Lower Closes TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Black Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Prudential plc traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Stocks Top Movers
NATGAS 2.9550.029 0.99%
SPX 2,841.7619.83 0.70%
NDX 7,449.8648.69 0.66%
INDU 25,326.05138.35 0.55%
ASX 6,329.0029.40 0.47%
CAC 5,403.41-8.91 -0.16%
TBOND 143.875-0.344 -0.24%
GBPUSD 1.2722-0.0043 -0.34%
FTSE 7,611.64-30.86 -0.40%
EURUSD 1.1344-0.0065 -0.57%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV96.14 -0.64
-0.66%
ACN 10 day candlestick chart for ACN161.24 1.01
0.63%
ADBE 10 day candlestick chart for ADBE256.05 2.51
0.99%
AAP 10 day candlestick chart for AAP154.80 9.96
6.88%
AES 10 day candlestick chart for AES13.52 0.14
1.05%
AET 10 day candlestick chart for AET197.11 2.40
1.23%
AFL 10 day candlestick chart for AFL46.51 0.21
0.45%
AMG 10 day candlestick chart for AMG147.35 0.95
0.65%
A 10 day candlestick chart for A66.99 1.05
1.59%
ABT 10 day candlestick chart for ABT63.74 0.31
0.49%