Price action reveals AptarGroup, Inc., Travel + Leisure Co., Autozone Inc as the stocks to watch as they near pivotal price targets in the near term.
A short overview of the current market situation: The leading indices are climbing up — Nasdaq up to 11,100, gaining 1.17%. S&P 500 up 0.76%, trading at 3,964.
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 consumer discretionary stocks and their price targets.
Buyers pushing AptarGroup towards its price target of $107.57; currently at $107.39
It will be interesting to follow how AptarGroup, Inc.'s run now faces a challenge at $107.57, which is only 18 cents away.
While AptarGroup has been trading flat for 4 days, todays session shows some improvement: the aerosol supplier trades at $107.39 today, after closing yesterday at $106.3 and gaining $1.09 (1.03%).
Buyers pushing Travel + Leisure towards its price target of $37.64; currently at $37.33
Travel + Leisure's run now faces a challenge at $37.64, which is only 31 cents away and will be interesting to follow.
Finally showing signs of life after 18 days of trading sideways, todays session shows some improvement: the US timeshare company gaining 1.81% and hovering around the $37.33 level.
Buyers pushing Autozone towards its price target of $2,480.84; currently at $2,481.76
Autozone's run now faces a challenge at $2,480.84, which is only 92 cents away and will be interesting to follow.
Autozone is in the midst of a 6 day downtrend. today's positive session could indicate a brief correction amid a broader downtrend, or, the start of a potential reversal. After ending yesterday at $2,455.26, Autozone is currently trading at $2,481.76.