Read up on CNH Industrial N.V., FedEx Corp, 3M as they approach key price targets in the near term.
Friday's session summary: Markets had an interesting day Friday; Nasdaq closed the day at 11,323, having gained 1.88%. S&P 500 gained 0.92% and closed at 3,993.
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. Let's review some industrials stocks and their price targets.
Buyers pushing CNH Industrial towards its price target of $15.64; currently at $15.43
Bullish sentiment helped CNH Industrial to hammer out a noteworthy $15 to $15.54 range Friday, and finally closing at $15.43 to end the session. CNH Industrial has increased a total of $2.13 over the past 8 days, with Friday's session contributing to the uptrend. Daily trading volume (5.43 million shares) was slightly above the current multiday average of 4.70 million.
Having set a significant high of $19.63 4 months ago, CNH Industrial is trading 37.05% lower. CNH Industrial has a market cap of $20.88 billion with an average daily trading volume of 4.70 million shares. So far in 2022, it has performed better than the Nasdaq by 32.42%.
CNH Industrial's recent run now faces a major challenge as concentrated supply is likely found at $15.64 with price action currently 21 cents away.
FedEx's Price target: $179.59 | Last close: $175.61 | Daily range: $166.24 – $176.88 | Off hours: $175.65
FedEx rallied 5.79% and maintained $175.61. Friday's gains added to FedEx's 8 days uptrend, during which it increased a total of $11.44. Daily trading volume (4 million shares) was above the current multiday average of 2.81 million.
FedEx has shed 24.91% over the past three months. FedEx is currently trading with a market cap of $45.70 billion with an average daily volume of 2.81 million shares. So far in 2022, it has been doing worse than the S&P 500 by 13%. $23.2 billion was FedEx's last reported revenue with $3.44 being the current EPS.
FedEx's run now faces a challenge at $179.59, which is only $4 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Buyers pushing 3M towards its price target of $134.6; currently at $132.98
3M's run now faces a challenge at $134.6, 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.
3M is on a 3 day uptrend, gaining a total of 7.39%. Friday's session pointed in the same direction — after ending Thursday at $129.15, the industry and consumer goods conglomerate spiked to $133.49 and closed Friday at $132.98 — gaining 2.97% overall. Daily trading volume (3.43 million shares) increased, making up 112% of the 21-day average (3 million).