Walt Disney, Frontdoor, Inc., Autozone Inc, among others, are the consumer discretionary stocks approaching important price targets.
A short overview of the current market situation: The leading indices are climbing up — Dow Jones up 0.84%, trading at 34,400. S&P 500 goes up 0.82%, trading at 4,052.64.
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. Take a look at these consumer discretionary stocks and their price targets.
Buyers pushing Walt Disney towards its price target of $96.87; currently at $95.25
Walt Disney's run now faces a challenge at $96.87, which is only $1.62 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Walt Disney has posted further gains as part of a 5 day trend that has already seen the stock gain $2.55. today's session so far looks to be heading in the same direction — after closing at $94.7 yesterday, Walt Disney began today at $94.54 with significant bullish sentiment driving Walt Disney's price action higher. So far today, price action has drawn out a distinct $94.11 to $95.47 range.
Buyers pushing Frontdoor towards its price target of $23.8; currently at $23.04
Frontdoor's recent run now faces a major challenge as concentrated supply is likely found at $23.8 with price action currently 76 cents away.
Frontdoor has posted further gains as part of a 4 day trend that has already seen the stock gain 66 cents. consistent for now — after ending the previous trading day at $22.76, Frontdoor went up to $23.12 only to drop back; still positive overall today, now trading at $23.04.
Autozone is trading at $2,384, its target level is $2,355.38
Autozone is trending down and heading towards $2,355.38, which is only $28.72 away now. Hitting this support line might signal a change of direction.
While on a 10 day downtrend, dropping a total of 7.56%, more of the same today: while bearish sentiment is dominating the market, the aftermarket automotive parts supplier is maintaining its poise around $2,384 while ranging between $2,369.63 and $2,402.62 so far today.