Change of direction? FedEx Corp, Honeywell International, General Electric, among others, are approaching price targets.
Here's an update with information from the last trading session: Markets were up yesterday; Dow Jones gained 1.18% and closed at 34,100. S&P 500 ended the session at 4,003.58 after a 1.36% gain.
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.
Buyers pushing FedEx towards its price target of $176.18; currently at $175.67
FedEx Corp's recent run now faces a major challenge as concentrated supply is likely found at $176.18 with price action currently 51 cents away.
FedEx continues a 4 day surge, reaping a total of 2.87%. FedEx lived up to expectations yesterday by maintaining its set course — the renowned transportation and delivery company rose as high as $176.86 before giving up its gains and dropping back to $175.67 before the close on yesterday. The day's trading volume totalled 1.42 million shares — under the 21-day average of 2.48 million.
Honeywell's Price target: $217.88 | Last close: $218.76 | Daily range: $217 – $219 | Off hours: $218.76
The manufacturing and technology company went up to $218.76, gaining 1.02%. Yesterday's gains added to Honeywell's bullish trend that has lasted for 14 days so far, during which it increased a total of $16.09. The day's trading volume totalled 2.52 million shares — slightly below the 21-day average of 3.57 million.
Honeywell hit a significant low of $166.97 around a month ago, but has since recovered 29.7%. Honeywell's market cap is currently $147 billion with an average daily trading volume of 3.57 million shares. The S&P 500 has been doing worse in 2022, it has been passing it by 25.93%. Honeywell's last revenue report was $15.54 billion with an EPS of $2.25.
Honeywell's run now faces a challenge at $217.88, which is only 88 cents 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 GE towards its price target of $86.81; currently at $87.3
GE's recent run now faces a major challenge as concentrated supply is likely found at $86.81 with price action currently 49 cents away.
GE is on a 4 day bullish run gaining 99 cents (2.83%). yesterday's session pointed in the same direction — the US conglomerate rallied 1.64% and maintained $87.3. The day's trading volume totalled 4 million shares — under the 21-day average of 6.31 million.