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June 23, 2023
Pay attention to the following consumer_cyclical stocks approaching critical price targets: PVH Corp, Hilton Worldwide Holdings Inc, Rollins Inc are the ones to watch.
Here's an update with information from the last trading session: Leading equity indices in the US declined as S&P 500 shed 0.77% and closed at 4,348.33. Nasdaq slipped 1% and closed at 13,500.
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. Check out this rundown of consumer_cyclical stocks and their price targets.
PVH Corp now at $80.89 | Forthcoming price target: $1.68 lower at $79.21
PVH Corp's downtrend might be halted by its support level at $79.21, which is only $1.68 away.
PVH Corp's bearish run has lasted 4 days so far (-$2). today's session continued the recent downtrend: after ending yesterday at $82.33, PVH Corp dropped to $80.15 early in today's session and closed at $80.89. In total, it lost 1.75%. The day's trading volume totalled 526,432 shares — lower than the 21-day average of 1.30 million.
Hilton bounces 32 cents from key support at $136.81
After reaching the $136.81 support zone, Hilton reversed direction and climbed 32 cents higher.
Having fallen $3.53 in 12 days, today's session continued down the same path: after ending yesterday at $141.07, Hilton Worldwide Holdings declined to $136.76 today before closing at $137.13, thereby losing 2.79% in total. Daily trading volume (2.78 million shares) was higher than the current multiday average of 1.67 million.
Rollins | Price Target: $41.22 approx 18 cents away; Current Price: $41.4 Session Low: $41.38 Session High: $41.92 | Off Hours: $41.39
Rollins could begin to recover as it approaches significant support, now 18 cents away from $41.22. Dipping below could be an indication that further losses are ahead.
Though in the midst of a 3 day uptrend, gaining a total of 1.2%, (69 cents), today's session suggests run might be coming to an end — although Rollins increased from $41.6 to $41.92, the stock dropped back and is now priced at $41.4. Trading volume totalled 935,328 which equates to around 53% of the stock's 21-day average today.
