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Possible Bearish Inside Day Candle Pattern Detected for Prudentl Finl (NYSE:PRU)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Prudentl Finl (NYSE:PRU) based on the price action in the company's shares. Yesterday's price range of $92.11 and $92.75 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Prudentl Finl may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Prudentl Finl share prices have been bracketed by a low of $75.61 and a high of $106.40 and closed yesterday at $92.55, 22% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

Prudential Financial, Inc. provides financial services throughout the United States and several locations worldwide. The Company offers a variety of products and services, including life insurance, mutual funds, annuities, pension, and retirement related services, as well as administration and asset management.

Prudentl Finl (NYSE:PRU) has potential upside of 31.4% based on a current price of $92.55 and analysts' consensus price target of $121.59. The stock should hit resistance at its 200-day moving average (MA) of $94.06, as well as support at its 50-day MA of $91.22.

SmarTrend recommended that subscribers consider buying shares of Prudentl Finl on September 10th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $85.80. Since that recommendation, shares of Prudentl Finl have risen 8.2%. We continue to monitor PRU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle prudentl finl

Ticker(s): PRU