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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 $95.79 and $96.45 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.

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.

There is potential upside of 27.9% for shares of Prudentl Finl based on a current price of $95.05 and an average consensus analyst price target of $121.59. The stock should discover initial support at its 200-day moving average (MA) of $94.03 and subsequent support at its 50-day MA of $93.67.

In the past 52 weeks, Prudentl Finl share prices have been bracketed by a low of $77.65 and a high of $106.40 and closed yesterday at $95.05, 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.

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 13.2%. 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