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TAKE PROFITS – Prudential (PRU)

Close Prudential (PRU) at 1,300.5p

Prudential has enjoyed a strong run following our entry in November last year.

The ‘China reopening rally’ gathered pace in December and January – a theme which Prudential has high levels of exposure.

However, recent price action has indicated that Prudential’s strong rally may be coming to an end…

The shares gapped lower last on concerns around elevated Sino-US geopolitical tensions and this has damaged short-term momentum.

With this in mind we are going to crystalise a healthy profit on this position.

PROFIT = 31.7%

PRU Daily Candle Chart