3 range-bound stocks reaching for price targets today

Published: January 25 2023, 19:50 GMT+0

3 range-bound stocks reaching for price targets today

Price action reveals The Real Estate Select Sector SPDR Fund, Hyatt Hotels Corporation, Pool Corp as the stocks to watch as they near pivotal price targets in the near term.

Here's the most recent update:

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.

Real Estate Select Sector SPDR Fund bears establish support around $38.81

The Real Estate Select Sector SPDR Fund's run now faces a challenge at $38.81, which is only 66 cents away and will be interesting to follow.

Stable at $39.47 and still trending upwards, today's session might suggest a slow down — Real Estate Select Sector SPDR Fund recovers back to $39.47 today after dipping down to $39.15, in a session that follows a previous closing value of $39.5.

Hyatt Hotels is trading at $111.8, its target level is $110.08

As we reach the end of the session, the multinational hospitality company trades at $111.8 with no clear-cut direction and ranging between $110.58 and $113.19. While flat so far today, Hyatt Hotels is on a 15 day bullish trend, gaining a total of $23 throughout.

This year has been a bright one for the US hospitality giant after trading as low as $71.21 and going on to appreciate by 25.92% year to date. The company is currently trading with a market cap of $11.98 billion with an average daily trading volume of 782,857 shares. Hyatt Hotels's last revenue report was $1.54 billion with an EPS of 64 cents.

Hyatt Hotels's run now faces a challenge at $110.08, which is only $1.72 away and will be interesting to follow.

Pool Corp bears establish support around $357.65

Pool Corp's run now faces a challenge at $357.65, which is only $5.85 away and will be interesting to follow.

While Pool Corp is on a 4 day bullish trend, today's session might suggest a slow down — after ending yesterday at $364.26, the wholesale distributor recovers back to $363.5 after dipping down to $357 today.

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