Kraft Heinz Co, Flowers Foods, Inc., Sysco Corp, among others, are the consumer staples stocks approaching important price targets.
Here's an update with information from the last trading session: Markets had an interesting day Friday; Dow Jones closed the day at 31,083, having gained 2.47%. S&P 500 ended the session at 3,752.75 after a 2.37% gain.
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. Let's review some consumer staples stocks and their price targets.
Kraft Heinz's price target: $34.6 | Last close: $35.21 | Daily range: $34.89 – $35.49 | Off hours: $35.21
$34.6 is only 61 cents away for Kraft Heinz Co and might put a stop to its current downtrend.
Having fallen 95 cents in 3 days, more of the same from Friday's session: the condiments and sauces company has almost recovered all its losses from a previous close of $35.34 after dipping down to $34.89 Friday.
Kraft Heinz is scheduled to announce earnings results Wednesday. The consensus Earnings Per Share estimate is 0.5698 and the consensus revenue estimate is $6.27 billion.
Flowers Foods's Price target: $27.19 | Last close: $27 | Daily range: $26.62 – $27.09 | Off hours: $27
Flowers Foods's recent run now faces a major challenge as concentrated supply is likely found at $27.19 with price action currently 18 cents away.
Having gone up $2.17 over the past 11 days, Flowers Foods pointed in the same direction Friday: bullish sentiment helped Flowers Foods to hammer out a noteworthy $26.62 to $27.09 range Friday, and finally closing at $27 to end the session. The day's trading volume totalled 960,552 shares — slightly under the 21-day average of 1.25 million.
Buyers pushing Sysco towards its price target of $81.24; currently at $80.05
Sysco's run now faces a challenge at $81.24, which is only $1.19 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Maintaining its 11 days rise (+$5), it was more of the same for Sysco Friday — Sysco gained 3.69% and stayed at $80.05 levels. Friday's trading volume was 2.48 million shares which is slightly below the 21-day average of 2.51 million.