Prudential Price: PRU Trades Below 750, Attempting to Rebuild a Baseline

PUBLISHED: 17 Jul 2024 @ 10:32 | Comments (0) | More info about Azeez Mustapha

There have been a round of price actions that show that bulls are contending with a resistance zone in the exchanges of Prudential Plc (LSE:PRU), given that the stock market presently trades below 750, attempting to rebuild a baseline around 700.

As of this writing, the shares that represent the company’s trade valuation are trading at around 703.20. A candlestick shows that the price is now finding its lower bound. Technically speaking, that suggests that the market’s freedom of movement may be limited in the next few sessions. For the trade to return to profitability, purchasing habits must start right away if the analysis’s premise regarding the trade’s variable overhead barriers is to be realized.

Resistance Levels: 750, 775, 800
Support Levels: 700, 675, 650

If PRU Plc’s shares continue to trade around 703.2, could there be further lows below the EMAs later on?
Given that Prudential Plc shares providing company presently trades around 7003.2, the decline force on the smaller bearish candlestick in the making is liable to provide energy re-garnering proceeds, as the price trades below 750, attempting to rebuild a baseline.

The 15-day EMA indicator is located beneath the 50-day EMA signal. They are also purposefully positioned in between the 700 and 750 value lines. The stochastic oscillators have crossed into the oversold area from the south to warn of possible free fall-offs. Because of this, it makes little sense to wait eagerly to execute fresh positioning orders, especially if position-staking alternatives aren’t being employed.

Learn from market wizards: Books to take your trading to the next

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Prudential Profits Fourth Year in a Row by Kenneth G. Mondero