Welcome to RiskMastery's Red Flag Stocks - Stocks with bearish potential.
In this edition, we'll be looking at ASX:PRU ...
I believe this code is at a point of potential volatility.
If price can hold below $1.670 ... Bearish potential may be unlocked.
My key downside targets include:
- $1.535 (Conservative)
- $1.195 (Medium)
- $0.985 (Aggressive)
...
look @ PRU.
it made a new high.
regained the losses from previous peak
so quickly it hurt your neck.
next target - circa $2.40
this baby could retest all time highs.
yes i got in @ under $1.
mofos. watch gold run coz govt will
take the easy way out and inflate the debt away
,
TEST RSI showing a breakout could happen.
price chart looks bullish and up trend is visibly in place.
price has broken out with a strong green candle
closing higher than the prev 2W closing high.
** RSI showing congestion.
RSI will lead the price breakout. buy PRU
if RSI breaks from the resistance level.
RSI also holding mostly above 50 which confirms
bull...
PRU closes with a new high on 2W chart.
time to load up again on PRU.
balance sheet also looks ok.
2 fibonacci levels are broken.
buying strength is good. up trend is in place.
buy and hold for another year.
PRU has completed the 4th wave down and has
reached EMA and fibonaaci support levels.
on the daily chart there is a nice bullish engulfing
candlestick pattern.
time to buy the fear in the gold price and ride
the volatility.
PRU 2W chart shows up trend intact.
1D chart shows continuation with a new
break out to higher highs.
smaller gold miners are starting to wind up
bigger caps have been running hard for years now.
The central bankers make this trade too easy.
