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April 25, 2023
Pay attention to the following communication_services stocks approaching critical price targets: Chunghwa Telecom Co., Ltd., Bilibili Inc., Pearson plc are the ones to watch.
A recap of today's session: Leading equity indices in the US declined as S&P 500 shed 1.58% and closed at 4,071.63. After dropping 1.98%, Nasdaq closed at 11,800.
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 communication_services stocks and their price targets.
Chunghwa Telecom | Price Target: $40.84 approx 18 cents away; Current Price: $41.02 Session Low: $40.89 Session High: $41.07 | Off Hours: $41.02
Chunghwa Telecom Co., Ltd. is eyeing the $40.84 support line.
While Chunghwa Telecom is on a 16 day uptrend today's session put the brakes on the ongoing uptrend — without a clear direction, Chunghwa Telecom closed at $41.02 while ranging between $40.89 and $41.07. Daily trading volume (105,581 shares) was slightly above the current multiday average of 102,643.
Bilibili is trading at $19.28, its target level is $19.33
After ending yesterday at $19.88, Bilibili declined to $19.25 today before closing at $19.28, thereby losing 3.02% in total. Today's fall added to a 6 day bearish run, during which Bilibili lost $1.85. The volume of trade was 4.42 million shares, close to the daily average of 4.40 million shares.
The Chinese video community enabler has shed 22.46% over the past three months. Bilibili's market cap currently stands at $7.80 billion with an average daily volume of 4.40 million shares. So far this year, it has been under-performing the Nasdaq by 40.08%. Bilibili is forecasted to generate revenues of $5.69 billion and EPS of -63 cents.
Bearish run for Bilibili is facing a possible turning point at $19.33, which is only 5 cents away. If this support line fails to hold, the next target will be at $18.71.
Pearson Plc dives below key support at $10.47
After ending yesterday at $10.57, Pearson Plc dropped to $10.45 early in today's session and closed at $10.45. In total, it lost 1.14%. Today's down move comes on the back of a 21 day uptrend, during which Pearson Plc added 61 cents to its value. Pearson Plc's recent uptrend could be petering out after the company eclipsed its average daily volume of 338,290 by 123% today.
The world's largest education company has shed 8.25% over the past three months. The company is currently trading with a market cap of $7.48 billion with an average daily trading volume of 338,290 shares. So far this year, it has been doing worse than the Nasdaq by 19.75%.
Pearson Plc fell below the $10.47 support zone and receded 2 cents beyond it.
