Pay attention to the following consumer discretionary stocks approaching critical price targets: Amazon, Rollins Inc, Whirlpool Corp are the ones to watch.
Here's the most recent update: The leading indices are slipping — Nasdaq trades at 10,400 after losing 1.19%. S&P 500 slipping 0.56% and closing at 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.
Amazon (AMZN) Price target: $90.18 | Last price: $89.59 | Daily range: $89 – $93.5
$90.18 is only 59 cents away for Amazon and might put a stop to its current downtrend.
While on a 7 day slump, falling 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. As things stand, trading volume is at 112.56 million, above the 21-day average of 77.62 million.
Buyers pushing Rollins towards its price target of $42.65; currently at $42.52
After closing yesterday at $41.87, Rollins spiked to $42.74 before giving back its gains and closing the session at $42.52. Rollins has gained $5.93 over the past 7 days, and today's session seems to be adding to the current uptrend.
2 days ago Rollins reached a significant high of $42.2 but has consequently lost 0.78% since then. Rollins's market cap currently stands at $20.94 billion with an average daily volume of 1.52 million shares. The S&P has been doing worse in 2022, it has been passing it by 52.19%. $729.70 million was Rollins's last reported revenue with 19 cents being the current EPS.
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.
Whirlpool active price target: $126.84; currently at $129.89
Whirlpool's downtrend might be halted by its support level at $126.84, which is only $3.05 away.
Whirlpool has been losing ground for 4 days, shedding 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.