Good technical signals and a possible breakout for PRINCIPAL FINANCIAL GROUP.

PRINCIPAL FINANCIAL GROUP (PFG)       72.15   +0.73 (+1.02%)

After market: 72.15 0 (0%)


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Good technical signals and a possible breakout for PRINCIPAL FINANCIAL GROUP.8 days ago - Chartmill

PRINCIPAL FINANCIAL GROUP (NASDAQ:PFG) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NASDAQ:PFG.

PFG Daily chart on 2022-09-23

Zooming in on the technicals.

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 7 out of 10 to PFG. In the last year, PFG was one of the better performers, but we do observe some doubts in the very recent evolution.

  • The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
  • When comparing the yearly performance of all stocks, we notice that PFG is one of the better performing stocks in the market, outperforming 93% of all stocks.
  • PFG is part of the Insurance industry. There are 136 other stocks in this industry. PFG outperforms 92% of them.
  • PFG is currently trading in the upper part of its 52 week range. This is a good signal, certainly because the S&P500 Index is currently trading in the lower part of its 52 week range.
  • In the last month PFG has a been trading in the 73.16 - 79.80 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Looking at the Setup

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NASDAQ:PFG scores a 8 out of 10:

PFG has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 78.95. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 74.44, a Stop Loss order could be placed below this zone.

How to trade NASDAQ:PFG?

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

Our Breakout analyzer lists more breakout setups and is updated daily.

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