Price action reveals Lululemon Athletica Inc, MGM Resorts International, Trip.com Group Ltd as the stocks to watch as they near pivotal price targets in the near term.
Here's the most recent update: Markets are up including news that Dow Jones up 1.21%, trading at 31,459. S&P 500 goes up 0.94%, trading at 3,788.
What is a Price Target?
A price target is the projection of an asset's future price. The concepts of trading levels support and resistance are undoubtedly two of the most highly discussed attributes of technical analysis. These price rates, or targets, are used by traders to refer to price levels on charts that tend to act as barriers, preventing the price of an asset from getting pushed in a certain direction. Assets that are on a trend and are nearing one of their lines are selected for this article. Check out this rundown of consumer discretionary stocks and their price targets.
Lululemon Athletica (LULU) Price target: $292.05 | Last price: $294.93 | Daily range: $287.64 – $299.84
Bearish run for Lululemon Athletica Inc is facing a possible turning point at $292.05, which is only $2.88 away. If this support line fails to hold, the next target will be at $285.47.
Lululemon is on a 6 day uptrend — bucking the trend and turning lower, the lifestyle inspired athletic apparel distributor drops 1.24% in early trade and remains within touching distance of the $294.93 level.
MGM Resorts International is trading at $33.94, its target level is $32.82
MGM Resorts International's run now faces a challenge at $32.82, which is only $1.11 away and will be interesting to follow.
While MGM Resorts International is on a 9 day bullish trend, today's session might suggest a slow down — after ending Friday at $33.92, MGM Resorts International recovers back to $33.94 after dipping down to $33.02 earlier today.
The resistance level is at $24.33, followed by $24.71.
The resistance level is at $24.33, followed by $24.71.
Tough session sees the travel service provider shedding 16.21% in early trade the trading volume is at 8.10 million, 137% above the 21-day average of 5.93 million.