Pay attention to the following communication services stocks approaching critical price targets: Vodafone Group Plc, Sirius XM Holdings Inc, AT&T are the ones to watch.
What is happening with the market now? The leading indices are climbing up — Nasdaq up 1.95%, trading at 11,166. S&P 500 up to 3,847, gaining 1.31%.
What is a Price Target?
A price target is the projection of an asset's future price. Support and resistance lines are important components of technical analysis used in predicting a price target because they prevent an asset from being pushed beyond a certain limit. When an asset drops in value it nears its support line, and when it increases in value it comes closer to its resistance line. Assets that are on a trend and are approaching one of their lines are selected for this article. Take a look at these communication services stocks and their price targets.
Buyers pushing Vodafone Group towards its price target of $11.65; currently at $11.51
Vodafone Group Plc's run now faces a challenge at $11.65, which is only 14 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
3 days and 21 cents of gains are not enough for Vodafone Group. this session seems to remain in the same lane for now — small gain for Vodafone Group at $11.51 after ranging between $11.46 and $11.6 today.
Buyers pushing Sirius XM towards its price target of $6.28; currently at $6.28
After dropping down to $6.23, the satellite and online radio company recovers some losses and is currently trading at $6.28. Today's gains are adding to Sirius XM's a 17 day bullish trend, during which it gained a total of 52 cents.
Having set a significant high of $6.86 25 days ago, the American broadcasting company is trading 9.11% lower. The company has a market cap of $24.44 billion with an average daily volume of 14.36 million shares. So far in 2022, it has performed better than the Nasdaq by 42.52%. $2.25 billion was Sirius XM's last reported revenue with 7 cents being the current EPS.
Sirius XM's recent run now faces a major challenge as concentrated supply is likely found at $6.28 with price action currently 1 cents away.
Buyers pushing AT&T towards its price target of $17.77; currently at $17.78
AT&T's recent run now faces a major challenge as concentrated supply is likely found at $17.77 with price action currently 26 cents away.
AT&T is on a 9 day uptrend, gaining a total of 21.52%. today's session so far looks to be heading in the same direction — after ending yesterday at $17.51, AT&T is currently trading at $17.78.