Change of direction? Leslie's, Inc., D.R. Horton Inc, DraftKings Inc., among others, are approaching price targets.
A quick recap of where the last trading session ended: Markets did not have a clear cut direction — Nasdaq closed at 12,072 after a flat day. Dow Jones closed 33,800 after a stable day.
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 consumer_cyclical stocks and their price targets.
Buyers pushing Leslie's towards its price target of $10.91; currently at $10.7
After closing at $10.66 on Thursday, Leslie's, Inc. maintained a strong bullish bias that helped the stock close higher at $10.7 yesterday. However, market bears ensured the the outdoor supplies and sporting goods merchant topped out at $10.81 and that by the end of the session, the market had marked out a distinct $10.6 to $10.81 range. Yesterday's gains are in contrast to Leslie's's bearish trend (lasting 9 days) during which it lost 63 cents of its value. Trading volume totalled 2.47 million which equates to around 82% of the stock's 21-day average yesterday.
The outdoor supplies and sporting goods merchant has shed 23.42% over the past three months. Leslie's is currently trading with a market cap of $1.97 billion with an average daily volume of 3 million shares. Leslie's's last revenue report was $195.10 million with an EPS of -14 cents.
It will be interesting to follow how Leslie's's run now faces a challenge at $10.91, which is only 21 cents away.
D.R. Horton is trading at $106.58, its target level is $105.52
D.R. Horton's run now faces a challenge at $105.52, which is only $1.06 away and will be interesting to follow.
Though in the midst of an 11 day uptrend, gaining a total of 11.44%, ($11.96), yesterday's session suggests run might be coming to an end — pronounced bearish sentiment in the market pushed the Texan home construction company into a notable 0.95% slide yesterday, falling $1 and ultimately closing at $106.58. D.R. Horton's recent uptrend could be petering out after the company eclipsed its average daily volume of 3.51 million by 106% today.
Buyers pushing DraftKings towards its price target of $22.22; currently at $21.97
DraftKings's recent run now faces a major challenge as concentrated supply is likely found at $22.22 with price action currently 25 cents away.
DraftKings has posted further gains as part of a 12 day trend that has already seen the stock gain $3.42. it was more of the same for DraftKings yesterday — pronounced bullish sentiment in the market helped the fantasy sports contest and sports betting operator to make a notable 2.76% gain yesterday, rising 59 cents and ultimately closing at $21.97. Daily trading volume (12.57 million shares) was slightly greater than the current multiday average of 10.10 million.