Read up on Lockheed Martin, CNH Industrial N.V., Roper Technologies Inc as they approach key price targets in the near term.
Here's an update with information from the last trading session: Leading equity indices in the US declined as Nasdaq closed at 11,184, a 1.54% change. After dropping 0.83%, S&P 500 closed at 3,958.79.
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.
Lockheed Martin's price target: $458.54 | Last close: $466.24 | Daily range: $461.59 – $469.26 | Off hours: $466.25
A convincing break of this target could pave the way for deeper losses.
Lockheed Martin's downtrend has seen it decline 5.64% in 6 days yesterday's session continued the recent downtrend: slightly down but mostly flat: Lockheed Martin ranged between $461.59 and $469.26 before closing at $466.24. The day's trading volume totalled 1 million shares — under the 21-day average of 1.87 million.
CNH Industrial's price target: $15.05 | Last close: $15.05 | Daily range: $15 – $15.13 | Off hours: $15.04
CNH Industrial is trending down and heading towards $15.05, which is only 11 cents away now. Hitting this support line might signal a change of direction.
CNH Industrial has lost 2.46% over the last 3 days. yesterday's session continued down the same path: pronounced bearish market sentiment ensured that CNH Industrial made a notable 0.73% loss yesterday, declining 11 cents and ultimately closing at $15.05. The day's trading volume totalled 2.72 million shares — lower than the 21-day average of 4.66 million.
Roper Technologies's price target: $432.15 | Last close: $431.4 | Daily range: $429.44 – $435.13 | Off hours: $434.48
Early in yesterday's session, Roper Technologies dropped to $429.44 from $435.95 at the end of Tuesday, before closing at $431.4. During the session, it lost 1.04%.
Roper Technologies has dropped $2.48 over the past 4 days; yesterday's session continued this downtrend. The day's trading volume totalled 461,351 shares — lower than the 21-day average of 709,937.
Roper hit a significant low of $359.64 around a month ago, but has since recovered 21.22%. Roper Technologies's market cap currently stands at $45.75 billion with an average daily trading volume of 709,937 shares. So far in 2022, it has performed better than the S&P by 11.9%. Roper Technologies last reported revenue of $1.35 billion with an EPS of $3.91.
Bearish run for Roper Technologies is facing a possible turning point at $432.15, which is only 75 cents away. If this support line fails to hold, the next target will be at $428.34.