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Shares of Prudential Financial Are Moving Lower on 1.3x Above-Average Volume (PRU)

Published on Fri, 04/05/2013 - 13:14
By Robert Cotter

Prudential Financial's stock is down 3.1% to $55.20 on heavy trading volume. About 4.2 million shares have been traded today, as compared to the 30-day average volume of 3.2 million shares. Spikes in volume can validate a breakout or signify a potential turning point.

Over the past year, Prudential Financial has traded in a range of $44.47 to $64.73 and is now at $55.20, 24% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.4%.

There is potential upside of 23.1% for shares of Prudential Financial based on a current price of $55.20 and an average consensus analyst price target of $67.94. The stock should find resistance at its 50-day moving average (MA) of $57.92, as well as support at its 200-day MA of $54.34.

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 and administration, asset management, securities brokerage, real estate brokerage, and relocation services.

By Robert Cotter
rcotter@fnno.com