Pay attention to the following consumer discretionary stocks approaching critical price targets: Whirlpool Corp, Rollins Inc, Amazon are the ones to watch.
A short overview of the current market situation: The leading indices are slipping — Nasdaq slipping 1.19% and closing at 10,400. S&P 500 drawing back 0.56% to 3,738.69.
What is a Price Target?
A price target is the projection of an asset's future price. Support and resistance lines are important components of technical analysis used in predicting a price target because they prevent an asset from being pushed beyond a certain limit. When an asset drops in value it nears its support line, and when it increases in value it comes closer to its resistance line. Assets that are on a trend and are approaching one of their lines are selected for this article. Check out this rundown of consumer discretionary stocks and their price targets.
Whirlpool (WHR) Price target: $126.84 | Last price: $129.89 | Daily range: $127.28 – $131.47
A convincing break of this target could pave the way for deeper losses.
In the last 4 days, Whirlpool has lost a total of 7.16% of its value. more of the same today: as the session draws to a close, Whirlpool is recovering but is not all the way back to $131.62 after dipping down to $127.28 today.
Buyers pushing Rollins towards its price target of $42.65; currently at $42.52
Rollins's recent run now faces a major challenge as concentrated supply is likely found at $42.65 with price action currently 13 cents away.
Rollins continues a 7 day uptrend, gaining a total of 18.32%. heading in the same direction for now — after closing yesterday at $41.87, Rollins spiked to $42.74 before giving back its gains and closing the session at $42.52.
Amazon active price target: $90.18; currently at $89.59
Bearish run for Amazon is facing a possible turning point at $90.18, which is only 59 cents away. If this support line fails to hold, the next target will be at $88.24.
While on a 7 day downtrend, dropping a total of 25.71%, similar trend today: the tech and retail multifaceted giant is sliding down from $92.12 to $89.59, taking a 2.75% loss as it nears the end of the session. Current trading volume stands at 112.56 million; 145% higher than the 21-day average of 77.62 million.