| 
June 04, 2023
Change of direction? Tremor International Ltd, Activision Blizzard, Telefónica, S.A., among others, are approaching price targets.
A recap of Friday's session: Markets had an interesting day Friday; Dow Jones ended the session at 33,763 after a 2.12% gain. S&P 500 closed the day at 4,282.37, having gained 1.45%.
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 Tremor International towards its price target of $7.02; currently at $6.95
Tremor International Ltd's recent run now faces a major challenge as concentrated supply is likely found at $7.02 with price action currently 7 cents away.
Tremor International has posted further gains as part of a 6 day trend that has already seen the stock gain 93 cents. Friday continued on the same track for Tremor International — generally flat but with a slight bullish bias, Tremor International ranged between $6.83 and $seven before closing higher at $6.95. Trading volume totalled 41,093 which equates to around 60% of the stock's 21-day average Friday.
Buyers pushing Blizzard towards its price target of $80.81; currently at $80.5
Blizzard's run now faces a challenge at $80.81, which is only 31 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Blizzard has posted further gains as part of a 6 day trend that has already seen the stock gain $3.06. Blizzard lived up to expectations Friday by maintaining its set course — Blizzard recovered from the previous trading session's losses and went up to $80.5 Friday after it traded lower at $79.83. The day's trading volume totalled 5.80 million shares — slightly below the 21-day average of 6.76 million.
Telefonica's price target: $4.06 | Last close: $4.17 | Daily range: $4.09 – $4.17 | Off hours: $4.17
A convincing break of this target could pave the way for deeper losses.
Having fallen 8 cents in 7 days, Friday's session continued down the same path: after ending Thursday at $4.18, Telefonica dropped to $4.09 early in Friday's session and closed at $4.17. In total, it lost 0.24%. Daily trading volume (950,095 shares) increased, making up 131% of the 21-day average (725,698).
