Trip.com Group Ltd, Skechers U.S.A., Inc., Graphic Packaging Holding Company, among others, are the consumer discretionary stocks approaching important price targets.
A quick recap of where the last trading session ended: Leading equity indices in the US declined as S&P 500 was down 1.44% before closing the session at 3,941.26. Nasdaq closed at 11,000, a 2% change.
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. Check out this rundown of consumer discretionary stocks and their price targets.
Buyers pushing Trip.com towards its price target of $33.81; currently at $33.11
Trip.com Group Ltd's recent run now faces a major challenge as concentrated supply is likely found at $33.81 with price action currently 70 cents away.
Trip.com Group has posted further gains as part of a 7 day trend that has already seen the stock gain $6.75. Trip.com Group stayed on track yesterday: the travel service provider went up to $33.11, gaining 1.25%. Yesterday's trading volume was 4.64 million shares which is below the 21-day average of 7 million.
Trip.com Group is scheduled to announce earnings results Wednesday. The consensus EPS estimate is 0.05 and the consensus revenue estimate is $5.80 billion.
Buyers pushing Skechers towards its price target of $43.35; currently at $42.94
It will be interesting to follow how Skechers's run now faces a challenge at $43.35, which is only 41 cents away.
The US footwear company gained 2.85% and stayed at $42.94 levels. Daily trading volume (1.76 million shares) was slightly above the current multiday average of 1.38 million.
Buyers pushing Graphic Packaging towards its price target of $22.76; currently at $22.76
Graphic Packaging's run now faces a challenge at $22.76, which is only 30 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Graphic Packaging has posted further gains as part of a 16 day trend that has already seen the stock gain 85 cents. yesterday continued on the same track for Graphic Packaging — the Fortune 500 packaging manufacturer went up to $22.76, gaining 1.29%. Yesterday's trading volume was 2.22 million shares which is slightly under the 21-day average of 2.82 million.