Pay attention to the following consumer discretionary stocks approaching critical price targets: Leslie's, Inc., Graphic Packaging Holding Company, Pinduoduo are the ones to watch.
Here's the most recent update: The leading indices are falling — S&P 500 trades at 3,991 after losing 1.98%. Dow Jones drawing back 1.54% to 33,900.
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.
Leslie's (LESL) Price target: $13.14 | Last price: $13.29 | Daily range: $13.14 – $13.79
A persuasive break of this target could lead to higher losses.
Leslie's has been losing ground for 4 days, shedding a total of 11.79% of its value. more of the same today: Leslie's falls 56.5 cents as trading session draws to a close around the $13.29 level.
Graphic Packaging active price target: $22.28; currently at $22.55
Graphic Packaging could begin to recover as it approaches significant support, now 28 cents away from $22.28. Dipping below could be an indication that further losses are ahead.
During a 15 day uptrend, Graphic Packaging gained a total of $1.35, or 4.32%. bucking the trend and turning lower, as the current session draws to a close, the paper-based packaging solutions provider remains in the $22.32 – $22.84 range after closing Friday at $22.97 and dropping by 1.81%.
Buyers pushing Pinduoduo towards its price target of $91.3; currently at $88.07
From an earlier low of $84.71, the Chinese e-commerce platform operator is on track to end the session around $88.07 after gaining $1.73 compared to last trading session's $86.34 (2%). Pinduoduo has gained $20.59 over the past 6 days, and today's session seems to be adding to the current uptrend. Current trading volume stands at 17.60 million; 127% slightly above the 21-day average of 13.81 million.
Having set a significant high of $86.34 8 months ago, the Chinese e-commerce platform operator is trading 238.19% lower. The company has a market cap of $111.35 billion with an average daily trading volume of 13.81 million shares. Pinduoduo has a forecast of $26.95 billion with an EPS of 54 cents.
Pinduoduo's run now faces a challenge at $91.3, which is only $3.23 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.