Insurance and benefit program provider Principal Financial (PFG) continues to steadily climb up the relative strength rankings in the SIA S&P 500 Index Report. Since returning to the Green Favored Zone in October, the shares are up 17.1%. Yesterday, PFG finished in 27th place, up 3 spots on the day and up 18 positions in the last month.
A year ago, Principal Financial (PFG) completed its recovery from the 2020 market crash with a bullish Ascending Triangle breakout. Since then, the shares have remained under steady accumulation, advancing in a Rising Channel of higher highs and higher lows. This week, the shares have broken out to another new all-time high, confirming their underlying uptrend continues.
Measured moves up out of a recent correction suggests potential upside resistance tests near $86.50 and $95.50 on trend. Underlying uptrend support appears near $70.00.
For over a year, Principal Financial (PFG) shares have been consistently climbing in an upward trend of higher lows and positive pattern breakouts. This month, the shares have continued to reach new all-time highs, completing a bullish Double Top breakout to signal the start of a new upleg, while a recent bullish Triple Top breakout also remains active.
Vertical and horizontal counts suggest potential resistance on trend near $86.50, $91.75 and the $100.00 round number. Initial support appears near $72.35 based on a 3-box reversal and a retest of a recent breakout point.
With a perfect SMAX score of 10, PFG is exhibiting strength across the asset classes.
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