Pay attention to the following consumer staples stocks approaching critical price targets: General Mills Inc, Mondelez International, Costco are the ones to watch.
What is happening with the market now? Markets are mixed with Nasdaq trades at 11,034 after losing 1.47%. Dow Jones up 0.38%, trading at 31,957.
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. Check out this rundown of consumer staples stocks and their price targets.
Buyers pushing General Mills towards its price target of $79.52; currently at $78.67
General Mills Inc's run now faces a challenge at $79.52, which is only 85 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
General Mills continues a 4 day uptrend, gaining a total of 2.61%. this session seems to remain in the same lane for now — General Mills trades at $78.67 today, after closing yesterday at $78.3 and gaining 37 cents (0.47%).
Buyers pushing Mondelez towards its price target of $60.81; currently at $60.09
Mondelez's recent run now faces a major challenge as concentrated supply is likely found at $60.81 with price action currently 72 cents away.
Mondelez continues a 4 day surge, reaping a total of 5.58%. heading in the same direction for now — the Oreo and Toblerone snack food company gaining 1.31% and hovering around the $60.09 level.
Buyers pushing Costco towards its price target of $506.27; currently at $502
Costco's recent run now faces a major challenge as concentrated supply is likely found at $506.27 with price action currently $4.28 away.
Costco displays further gains following a recent trend of 4 days and $34.44. today's session so far looks to be heading in the same direction — although Costco increased from $499.06 to $507.42, the stock dropped back and is now priced at $502.