Read up on Schneider National, Inc., HEICO Corporation, Donaldson Company, Inc. as they approach key price targets in the near term.
Friday's session summary: Leading equity indices in the US declined as Dow Jones shed 0.9% and closed at 33,476. S&P 500 closed at 3,934.38, a 0.73% 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 industrials stocks and their price targets.
Schneider's price target: $24.4 | Last close: $24.73 | Daily range: $24.53 – $24.86 | Off hours: $24.73
Schneider National, Inc.'s bearish trend is facing a possible turning point at $24.4, which is only 33 cents away. Will be interesting to follow.
A 7 day downtrend has resulted in the asset losing $1.21. a slight improvement can be seen from Friday's session: although Schneider increased from $24.71 to $24.86, the stock dropped back and is now priced at $24.73. Friday's trading volume was 425,422 shares which is slightly below the 21-day average of 503,467.
HEICO's price target: $121.78 | Last close: $122.29 | Daily range: $122.1 – $123.43 | Off hours: $122.29
After ending Thursday at $123.82, HEICO dropped to $122.1 early in Friday's session and closed at $122.29. In total, it lost 1.24%. HEICO has been dropping for 6 days, losing $4.4, with Friday's session maintaining the downtrend. Friday's trading volume was 93,131 shares which is under the 21-day average of 176,259.
5 months ago, the niche aerospace company fell to a low of $102.93 but has since recovered 20.3%. HEICO is currently trading with a market cap of $10 billion with an average daily volume of 176,259 shares.
HEICO is trending down and heading towards $121.78, which is only 51 cents away now. Hitting this support line might signal a change of direction.
Donaldson's price target: $58.52 | Last close: $59.49 | Daily range: $58.93 – $59.82 | Off hours: $59.49
A convincing break of this target could pave the way for deeper losses.
Donaldson is on a 7 day downtrend with a marginal improvement upon Friday's session, a mostly flat day so far for the air filter producer, range-bound between $58.93 and $59.82 and currently at $59.49. Friday's trading volume was 380,382 shares which is slightly under the 21-day average of 462,056.