Pay attention to the following consumer discretionary stocks approaching critical price targets: Travel + Leisure Co., Ferrari N.V., PVH Corp are the ones to watch.
A quick recap of where the last trading session ended: Markets did not have a clear cut direction — Dow Jones lost 0.56% and ended the session at 34,400. Nasdaq closed 11,482 after a stable day.
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.
Buyers pushing Travel + Leisure towards its price target of $39.71; currently at $39.19
The US timeshare company went up to $39.19, gaining 0.82%. Positive signs: after 13 days of being mostly flat, Travel + Leisure closed 0.82% higher yesterday. Daily trading volume (741,271 shares) was slightly above the current multiday average of 654,798.
9 months ago the US timeshare company reached a significant high of $62.06 but has consequently lost 37.37% since then. Travel + Leisure is currently trading with a market cap of $3.19 billion with an average daily volume of 654,798 shares. Travel + Leisure's last revenue report was $937 million with an EPS of $1.28.
It will be interesting to follow how Travel + Leisure's run now faces a challenge at $39.71, which is only 52 cents away.
Buyers pushing Ferrari towards its price target of $231.33; currently at $228.08
Ferrari's run now faces a challenge at $231.33, which is only $3.25 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Ferrari displays further gains following a recent trend of 12 days and $10.29. Ferrari pointed in the same direction yesterday: pronounced bullish sentiment in the market helped the illustrious car manufacturer to make a notable 2.26% gain yesterday, rising $5.03 and ultimately closing at $228.08. The day's trading volume totalled 287,692 shares — slightly below the 21-day average of 307,581.
PVH's nearest support level is at $65.11.
PVH Corp's nearest support level is at $65.11.
Having gone up $8.43 over the past 7 days, yesterday's session pointed in the same direction — after closing yesterday at $73.52, the renowned clothing company peaked at $76.39 before giving up early gains and closing at $73.52. Daily trading volume (2.17 million shares) was higher than the current multiday average of 1 million.