Pay attention to the following consumer_defensive stocks approaching critical price targets: Costco, Hershey Co, Walmart are the ones to watch.
A recap of Friday's session: Markets completed a mixed session Friday, as Dow Jones ended the session at 33,869 after a 0.5% gain. Nasdaq closed at 11,718, a 0.61% change.
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. Let's review some consumer_defensive stocks and their price targets.
Costco's price target: $493.51 | Last close: $500 | Daily range: $495.41 – $500.55 | Off hours: $500.59
A convincing break of this target could pave the way for deeper losses.
Having lost $22.8 over 7 days, with a marginal improvement upon Friday's session, an influx of sellers pushed the wholesale giant to session lows around $495.41 while establishing a $495.41 to $500.55 session range Friday. Friday's trading volume was 1.54 million shares which is slightly under the 21-day average of 1.85 million.
Hershey's Price target: $240.81 | Last close: $239.1 | Daily range: $235.12 – $239.68 | Off hours: $241.91
Hershey's recent run now faces a major challenge as concentrated supply is likely found at $240.81 with price action currently $1.71 away.
Hershey has posted further gains as part of a 3 day trend that has already seen the stock gain 31 cents. on-trend Hershey closed the session Friday with more of the same: bullish sentiment helped the chocolatier giant to hammer out a noteworthy $235.12 to $239.68 range Friday, and finally closing at $239.1 to end the session. The day's trading volume totalled 922,410 shares — slightly under the 21-day average of 1.19 million.
Buyers pushing Walmart towards its price target of $144.38; currently at $143.72
Walmart's run now faces a challenge at $144.38, which is only 66 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Walmart has posted further gains as part of a 3 day trend that has already seen the stock gain $1.3. it was more of the same for Walmart Friday — pronounced bullish sentiment in the market helped the warehouse stores chain company to make a notable 1.55% gain Friday, rising $2.2 and ultimately closing at $143.72. Trading volume totalled 5 million which equates to around 93% of the stock's 21-day average Friday.