Pay attention to the following consumer discretionary stocks that are approaching targets: Restaurant Brands International Inc., Ferrari N.V., Ford Motor Co are the ones to notice.
Here's an update with information from the last trading session: Leading equity indices in the US rose as Dow Jones ended the session at 30,524 after a 1.12% gain. S&P 500 gained 1.14% and closed at 3,720.
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.
Restaurant Brands International's target is $55.79, currently at $55.5
Restaurant Brands International rallied 1.41% and maintained $55.5. Restaurant Brands International has increased a total of $2.42 over the past 8 days, with yesterday's session contributing to the uptrend. Yesterday's trading volume was 1.28 million shares which is slightly below the 21-day average of 1.36 million.
Having set a significant high of $61.96 4 months ago, Restaurant Brands International is trading 16.6% lower. Restaurant Brands International's market cap currently stands at $24.70 billion with an average daily trading volume of 1.36 million shares. The Nasdaq has been doing worse in 2022, it has been passing it by 39.6%. $1.64 billion was Restaurant Brands International's last reported revenue with 82 cents being the current EPS.
Restaurant Brands International's run now faces a challenge at $55.79, which is only 29 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Ferrari eyes $195.05, trades at $191.02
Ferrari's recent run now faces a major challenge as concentrated supply is likely found at $195.05 with price action currently $4.03 away.
Ferrari is on a 3 day uptrend, gaining a total of 5.75%. Ferrari lived up to expectations yesterday by maintaining its set course — after ending Monday at $188.59, Ferrari went up to $193.48 only to drop back, yet still traded well overall and closed at $191.02 yesterday. Yesterday's trading volume was 261,646 shares which is lower than the 21-day average of 402,186.
Ford Motors targets $12.4, currently only 37 cents away
Ford's run now faces a challenge at $12.4, which is only 37 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Ford is on a 7 day bullish run gaining 47 cents (5.9%). Ford pointed in the same direction yesterday: after ending Monday at $11.83, Ford Motors spiked to $12.25 yesterday, dropped back to starting point range, and rallied again to $12.03. The day's trading volume totalled 52.71 million shares — below the 21-day average of 82.39 million.
Ford is scheduled to announce earnings results Wednesday. The consensus EPS estimate is 0.3202 and the consensus revenue estimate is $37.75 billion.