Read up on Carrier Global Corp, Curtiss-Wright Corporation, Otis Worldwide Corp as they approach key price targets in the near term.
Yesterday's session summary: Markets were up yesterday; Dow Jones closed the day at 31,500, having gained 1.34%. S&P 500 gained 1.19% and closed at 3,797.34.
What is a Price Target?
A price target is the projection of an asset's future price. Support and resistance lines are important components of technical analysis used in predicting a price target because they prevent an asset from being pushed beyond a certain limit. When an asset drops in value it nears its support line, and when it increases in value it comes closer to its resistance line. Assets that are on a trend and are approaching one of their lines are selected for this article. Check out this rundown of industrials stocks and their price targets.
Carrier Global's Price target: $36.21 | Last close: $35.85 | Daily range: $35.21 – $36.06 | Off hours: $35.87
Pronounced bullish sentiment in the market helped Carrier Global to make a notable 1.88% gain yesterday, rising 66 cents and ultimately closing at $35.85. Yesterday's gains added to Carrier Global's 3 days uptrend, during which it increased a total of $1.13. Yesterday's trading volume was 3.50 million shares which is slightly under the 21-day average of 4.92 million.
Carrier Global hit a significant low of $34.06 around 5 days ago, but has since recovered 3.32%. The company has a market cap of $30.17 billion with an average daily trading volume of 4.92 million shares. So far in 2022, it has been doing worse than the S&P by 5.51%. Carrier Global last reported revenue of $5.21 billion with an EPS of 69 cents.
Carrier Global's recent run now faces a major challenge as concentrated supply is likely found at $36.21 with price action currently 36 cents away.
Buyers pushing Curtiss-Wright towards its price target of $166.57; currently at $165.8
Curtiss-Wright's run now faces a challenge at $166.57, which is only 77 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Curtiss-Wright displays further gains following a recent trend of 7 days and $16.37. on-trend Curtiss-Wright closed the session yesterday with more of the same: an influx of buyers helped Curtiss-Wright to end the session higher around $165.8, while establishing a $164.07 to $166.09 session range yesterday. Daily trading volume (233,584 shares) was slightly above the current multiday average of 196,221.
Buyers pushing Otis Worldwide towards its price target of $67.72; currently at $67.08
Otis Worldwide's run now faces a challenge at $67.72, which is only 64 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Otis Worldwide is on a 3 day bullish run gaining $2.04 (3.6%). Otis Worldwide lived up to expectations yesterday by maintaining its set course — after ending Friday's session at $66.79, Otis Worldwide went up to $67.89 yesterday only to fall back and close at $67.08.
Otis Worldwide is scheduled to announce earnings results tomorrow. The consensus EPS estimate is 0.7826 and the consensus revenue estimate is $3.42 billion.