3 range-bound stocks reaching for price targets today

Published: January 25 2023, 20:50 GMT+0

3 range-bound stocks reaching for price targets today

Read up on The Real Estate Select Sector SPDR Fund, Litecoin, iShares U.S. Real Estate ETF as they approach key price targets in the near term.

A quick recap:

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.

XLRE Price Target: $38.81 | Last price: $39.48 | Daily range: $39.15 – $39.61

The Real Estate Select Sector SPDR Fund recovers back to $39.48 today after dipping down to $39.15, in a session that follows a previous closing value of $39.5. While flat so far today, Real Estate Select Sector SPDR Fund is on a 4 day bullish trend, gaining a total of 73 cents throughout.

Real Estate Select Sector SPDR Fund has managed to gain 6.56% so far this year despite trading at lows around $33.77 previously.

Real Estate Select Sector SPDR Fund is eyeing the $38.81 support line.

Buyers pushing LTC towards its price target of $88.61; currently at $89.04

Small gain for LTC at $89.04 after ranging between $86.06 and $89.04 today. LTC has gained $4.72 over the past 8 days, and today's session seems to be adding to the current uptrend.

LTC has gained 23% since its lowest print of $43.3 earlier this year. Litecoin has a market cap of 6.42 billion with an average daily volume of 90.71 million.

LTC's run now faces a challenge at $88.61, which is only 44 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.

IYR now at $89.86 | Forthcoming price target: 97 cents lower at $88.89

IShares U.S. Real Estate ETF's run now faces a challenge at $88.89, which is only 97 cents away and will be interesting to follow.

During a 4 day uptrend, iShares U.S. Real Estate ETF gained a total of $1.7, or 1.68%. bucking the trend and turning lower, iShares U.S. Real Estate ETF recovering almost all the way back to $90.07 today, after dipping down to $89.17.

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