3 stocks with price targets despite Wednesday's range-bound session

Published: November 25 2022, 12:50 GMT+0

3 stocks with price targets despite Wednesday's range-bound session

Price action reveals Vanguard Small-Cap Index Fund ETF Shares, ASML Holding, Schlumberger NV as the stocks to watch as they near pivotal price targets in the near term.

A quick recap of where the last trading session ended:

What is a Price Target?

A price target is the projection of an asset's future price. The concepts of trading levels support and resistance are undoubtedly two of the most highly discussed attributes of technical analysis. These price rates, or targets, are used by traders to refer to price levels on charts that tend to act as barriers, preventing the price of an asset from getting pushed in a certain direction. Assets that are on a trend and are nearing one of their lines are selected for this article.

VB's target is $194.44, currently at $193.49

Vanguard Small-Cap Index Fund ETF Shares's recent run now faces a major challenge as concentrated supply is likely found at $194.44 with price action currently 95 cents away.

Vanguard Small Cap ETF is on a 5 day bullish run gaining $3.07 (1.91%). Wednesday's session pointed in the same direction — generally flat but with a slight bullish bias, Vanguard Small Cap ETF ranged between $192.22 and $194.28 before closing higher at $193.49.

ASML's Price target: $610.84 | Last close: $603.85 | Daily range: $595.18 – $610 | Off hours: $603.85

ASML's run now faces a challenge at $610.84, which is only $7 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.

ASML displays further gains following a recent trend of 6 days and $19.51. Wednesday's session pointed in the same direction — ASML closed at $603.85 Wednesday after ranging between $595.18 and $610. The day's trading volume totalled 874,969 shares — lower than the 21-day average of 1.50 million.

Schlumberger's price target: $50.69 | Last close: $51.42 | Daily range: $51.06 – $52.89 | Off hours: $51.42

A convincing break of this target could pave the way for deeper losses.

Schlumberger's bearish run has lasted 9 days so far (-$1.18). Wednesday's session continued the recent downtrend: early in Wednesday's session, Schlumberger dropped to $51.06 from $53.64 at the end of Tuesday, before closing at $51.42. During the session, it lost 4.14%.
The day's trading volume totalled 10 million shares — slightly under the 21-day average of 14 million.

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