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Prudential Shares Post Seventh Straight Daily Gain

Prudential shares rose for a seventh consecutive session yesterday, closing at 944.2p, two sessions short of the longest winning run in the stock's price history, though still well below their 52-week high.

Prudential (LON: PRU), the life insurer, closed at 944.2p yesterday, its seventh consecutive daily gain. The shares gained 1.2% on Tuesday, trading between 923.6p and 950.8p.

Volume was 9,279,519 shares against a 20-day average of 9,490,149, so activity was in line with normal. The company has a market value of £22.54bn.

The run was already under way last week: the same signal fired on Friday 30 October. The cause of the move is not clear.

Chart of Prudential's daily share price change, ending in a run of seven consecutive gains
Prudential: daily change to Tuesday 3 November. The final seven sessions all closed higher.

How unusual this is

Seven sessions is a long run but not a record. The longest winning streak in Prudential’s price history, which starts in September 2021, is nine sessions. It ended on the 30th of October last year, so the current run sits two sessions short of it.

Still far from the high

Even after seven straight gains the shares remain 21.1% below their 52-week high. They stand 7.2% above their 52-week low and are down 15.9% so far this year.

PRU.LSE

Prudential is due to report its third-quarter new business figures on Thursday.

Asktraders News Team
Asktraders News Team
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The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.

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