Price action reveals Live Nation Entertainment Inc, Tremor International Ltd, BCE Inc. as the stocks to watch as they near pivotal price targets in the near term.
A recap of yesterday's session: Leading equity indices in the US rose as Nasdaq ended the session at 12,100 after a 1.9% gain. S&P 500 closed the day at 4,164, having gained 1.29%.
What is a Price Target?
A "price target" is an estimate of the future price of a stock based on earnings forecasts and assumed valuation multiples. Price targets are typically generated by respected market analysts who believe a stock to be fairly valued relative to its projected and historical earnings. Target prices are used to evaluate stocks and can help investors evaluate the potential risk/reward profile of a stock. Check out this rundown of communication_services stocks and their price targets.
Buyers pushing Live Nation Entertainment towards its price target of $80.7; currently at $80.68
Live Nation Entertainment Inc's run now faces a challenge at $80.7, which is only 2 cents away and will be interesting to follow.
Live Nation Entertainment is in the midst of a 3 day downtrend. a possible change of direction spotted from yesterday; Live Nation Entertainment recovered from the previous trading session's losses and went up to $80.68 yesterday after it traded lower at $78.67. The day's trading volume totalled 913,947 shares — under the 21-day average of 2.18 million.
Buyers pushing Tremor International towards its price target of $8.22; currently at $8.17
It will be interesting to follow how Tremor International's run now faces a challenge at $8.22, which is only 5 cents away.
A 3 day downtrend is ongoing for Tremor International. a possible reversal detected from yesterday; after closing at $8.09 on Monday, Tremor International maintained a strong bullish bias that helped the stock close higher at $8.17 yesterday. However, market bears ensured the the video-first advertising technology platform topped out at $8.22 and that by the end of the session, the market had marked out a distinct $8.03 to $8.22 range. The day's trading volume totalled 53,383 shares — under the 21-day average of 137,027.
BCE (BCE) Price target: $45.71 | Last price: $45.67 | Daily range: $45.52 – $46.05
Bearish run for BCE is facing a possible turning point at $45.71, which is only 4 cents away. If this support line fails to hold, the next target will be at $45.44.
BCE's bearish run has lasted 4 days so far (-$1.62). yesterday's session continued down the same path: an influx of sellers pushed the Canadian telecoms company to session lows around $45.52 while establishing a $45.52 to $46.05 session range yesterday. Daily trading volume (1.34 million shares) was slightly above the current multiday average of 1.24 million.