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April 11, 2023
Change of direction? Orange S.A., RELX PLC, Vodafone Group Plc, among others, are approaching price targets.
A short overview of the current market situation: The leading indices are pointing up — Dow Jones up 0.49%, trading at 33,752. S&P 500 up to 4,120.47, gaining 0.28%.
What is a Price Target?
A "price target" is an estimate of the future price of a stock based on earnings forecasts and assumed valuation multiples. Price targets are typically generated by respected market analysts who believe a stock to be fairly valued relative to its projected and historical earnings. Target prices are used to evaluate stocks and can help investors evaluate the potential risk/reward profile of a stock. Take a look at these communication_services stocks and their price targets.
Orange is trading at $12.51, its target level is $12.44
Orange S.A. is eyeing the $12.44 support line.
While Orange is on a 16 day bullish trend, today's session might suggest a slow down — a mostly flat day so far for the French telecoms giant, range-bound between $12.46 and $12.54 and currently at $12.51.
RELX (RELX) Price target: $32.43 | Last price: $32.7 | Daily range: $32.55 – $32.72
The British analytics company drops 0.32% in early trade and remains within touching distance of the $32.7 level. Today's fall comes after an 18 day uptrend, during which RELX added 7.09% to its value
This year has been a bright one for the London-based analytics firm after trading as low as $23.58 and going on to appreciate by 18.07% year to date. The company has a market cap of $62.24 billion with an average daily volume of 716,391 shares. So far this year, it has been outperforming the Nasdaq by 4%.
RELX is eyeing the $32.43 support line.
Buyers pushing Vodafone Group towards its price target of $11.43; currently at $11.42
Vodafone Group's recent run now faces a major challenge as concentrated supply is likely found at $11.43 with price action currently 1 cents away.
Vodafone Group has posted further gains as part of a 4 day trend that has already seen the stock gain 43 cents. this session seems to remain in the same lane for now — the iconic telecoms provider trades at $11.42 today, after closing yesterday at $11.37 and gaining 5 cents (0.44%).
