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April 29, 2023
Bilibili Inc., Rogers Communications Inc., World Wrestling Entertainment, Inc., among others, are the communication_services stocks approaching important price targets.
A recap of yesterday's session: Leading equity indices in the US rose as Dow Jones ended the session at 34,100 after a 0.8% gain. S&P 500 closed the day at 4,169.48, having gained 0.83%.
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. Let's review some communication_services stocks and their price targets.
Buyers pushing Bilibili towards its price target of $20.54; currently at $20.36
Bilibili Inc.'s run now faces a challenge at $20.54, which is only 18 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Bilibili has posted further gains as part of a 4 day trend that has already seen the stock gain 76 cents. yesterday's session pointed in the same direction — after closing at $20.04 on Thursday, Bilibili maintained a strong bullish bias that helped the stock close higher at $20.36 yesterday. However, market bears ensured the the iconic Chinese brand topped out at $20.43 and that by the end of the session, the market had marked out a distinct $19.95 to $20.43 range. The day's trading volume totalled 2.34 million shares — below the 21-day average of 4.21 million.
Buyers pushing Rogers Communication towards its price target of $49.62; currently at $49.39
Rogers Communication's recent run now faces a major challenge as concentrated supply is likely found at $49.62 with price action currently 23 cents away.
Rogers Communication has posted further gains as part of a 4 day trend that has already seen the stock gain $1.74. Rogers Communication lived up to expectations yesterday by maintaining its set course — Rogers Communication ended Thursday at $49.11. yesterday it went up to $49.42 only to drop back, yet still managed to close at $49.39. Yesterday's trading volume was 315,306 shares which is slightly under the 21-day average of 383,874.
Buyers pushing World Wrestling Entertainment towards its price target of $107.95; currently at $107.17
World Wrestling Entertainment's run now faces a challenge at $107.95, which is only 78 cents away and will be interesting to follow.
While World Wrestling Entertainment was in the midst of a 6 day downtrend— in which it lost a total of 2%— a possible change of direction spotted from yesterday; the professional wrestling entertainment company went up to $107.17, gaining 1.46%. Yesterday's trading volume was 816,240 shares which is lower than the 21-day average of 2 million.
World Wrestling Entertainment is scheduled to announce earnings results Wednesday. The consensus Earnings Per Share estimate is 0.42 and the consensus revenue estimate is $291.46 million.
