Caterpillar, Boeing, Raytheon Technologies, among others, are the industrials stocks approaching important price targets.
What is happening with the market now? The leading indices were losing ground — Nasdaq trades at 10,900 after losing 0.7%. S&P 500 drawing back 0.36% to 3,858.
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 industrials stocks and their price targets.
Buyers pushing Caterpillar towards its price target of $220.64; currently at $218.56
Caterpillar's recent run now faces a major challenge as concentrated supply is likely found at $220.64 with price action currently $2.08 away.
Having gone up $35.92 over the past 8 days, heading in the same direction for now — after ending yesterday at $216.46, Caterpillar is currently trading at $218.56.
Buyers pushing Boeing towards its price target of $147.09; currently at $143.65
Boeing's recent run now faces a major challenge as concentrated supply is likely found at $147.09 with price action currently $3.44 away.
4 days and $8.72 of gains are not enough for Boeing. this session seems to remain in the same lane for now — the aircraft manufacturer trades at $143.65 today, after closing yesterday at $142.51 and gaining $1.14 (0.8%).
The company reported earnings of -0.6 per share Wednesday, falling short of expectations of -0.01. Revenue was also lower than expected at $15.96 billion versus $17.86 billion. Since the release of its earnings report, Boeing lost 2.05%
Buyers pushing Raytheon Technologies towards its price target of $95.85; currently at $95.59
Raytheon Technologies's run now faces a challenge at $95.85, which is only 26 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Raytheon Technologies is on a 5 day bullish run gaining $6.46 (8.18%). today's session so far looks to be heading in the same direction — Raytheon Technologies is rallying again to $95.59 (up 77 cents), after erasing earlier gains.