Prudential plc : The bearish trend could accelerate
By Pierre Gilles de la Londe
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 1,495 | GBX 0 | GBX 1,529 | +100% |
Fundamentals on Prudential remain extremely volatile. Analysts revised downwards the EPS of the group and it announces important falls to come in terms of profitability and a slowdown in their activity.
After a bullish period on latter sessions toward the midterm resistance at GBp 1552.5, prices may consolidate on this area and the return to quotation levels close to the GBp 1427 support. Moreover, prices have recently brokedown the short term pivot point at GBp 1498 which argue for a bearish continuity.
Most active investors could open short positions on Prudential at current prices. The target being set at GBp 1427, or a potential gain of 5%. A stop loss could be placed at GBp 1529, above the 20-day moving average.