Exercising prudence in Prudential

The market in Prudential shares has come up against resistance. Is it time to take profits? John C Burford explores the charts.

In my postof 8 April, I showed what could be done with a chart of an individual share in this case Prudential(LSE: PRU). Remember, I will only analyse large cap issues because they are subject to far fewer nasty shocks than are small caps.

Large cap shares often display beautiful Elliott wave patterns, excellent tramlines and even accurate Fibonacci targets.

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John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.