Generac Holdings Inc, Curtiss-Wright Corporation, Clean Harbors, Inc., among others, are the industrials stocks approaching important price targets.
A quick recap of where the last trading session ended: Markets completed a mixed session Friday while Nasdaq shed 0.18% and closed at 11,461. S&P 500 was down 0.12% before closing the session at 4,071.7.
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.
Generac Holdings's price target: $99.04 | Last close: $100.7 | Daily range: $100.55 – $105.39 | Off hours: $100.7
Grinding lower but with no clear-cut direction, the engine equipment manufacturer closed the session at $100.7 after forming a distinct $100.55 – $105.39 range. Friday's 2.32% loss extends a 3 day bearish run in which Generac Holdings had already lost $2.43 from its share value. Friday's trading volume was 1.49 million shares which is slightly under the 21-day average of 1.97 million.
The power grid software developer is now trading 54.77% below its 3-month high of $368. Generac Holdings's market cap currently stands at $6.38 billion with an average daily trading volume of 1.97 million shares. So far in 2022, it has been doing worse than the S&P by 52.79%. $1 billion was Generac Holdings's last reported revenue with $1.75 being the current EPS.
Generac Holdings's bearish trend is facing a possible turning point at $99.04, which is only $1.66 away. Will be interesting to follow.
Curtiss-Wright's Price target: $182.89 | Last close: $180.35 | Daily range: $177.12 – $182.55 | Off hours: $180.35
Curtiss-Wright's recent run now faces a major challenge as concentrated supply is likely found at $182.89 with price action currently $2.54 away.
Having gone up $3.04 over the past 4 days, Friday's session pointed in the same direction — Curtiss-Wright rallied 1.04% and ended the session at $180.35. Daily trading volume (261,328 shares) increased, making up 130% of the 21-day average (200,689).
Buyers pushing Clean Harbors towards its price target of $126.5; currently at $124
Clean Harbors's run now faces a challenge at $126.5, which is only $2.48 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Clean Harbors is on a 4 day bullish run gaining $5.24 (7.41%). Friday's session pointed in the same direction — the environmental and industrial company ended Thursday's session at $120.7, spiked up to $125.41 and closed at $124 — gaining 2.75% Friday. The day's trading volume totalled 380,489 shares — slightly below the 21-day average of 400,503.