Imminent price targets among stocks following yesterday's bullish session

Paycom Software Inc, Rogers Communications Inc., Capri Holdings Limited, among others, are the stocks approaching important price targets.

Here's an update with information from the last trading session: Leading equity indices in the US rose as Nasdaq gained 2.19% and closed at 12,976. S&P 500 closed the day at 4,205.45, having gained 1.3%.

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 stocks and their price targets.

Bullish momentum leaves Paycom flirting with resistance at $281.35

After testing beyond the $281.35 resistance level, Paycom Software Inc price action is alternating above and below this key level.

While Paycom was in the midst of a 5 day downtrend— in which it lost a total of 2.85%— a possible change of direction spotted from yesterday; after closing at $278.64 on Thursday, Paycom maintained a strong bullish bias that helped the stock close higher at $280.95 yesterday. However, market bears ensured the the human resource tech developer topped out at $285.13 and that by the end of the session, the market had marked out a distinct $280.06 to $285.13 range. Yesterday's trading volume was 366,630 shares which is lower than the 21-day average of 712,058.

Rogers Communication active price target: $45.11; currently at $45.19

A persuasive break of this target could lead to higher losses.

Having fallen $3.86 in 13 days, more of the same from yesterday's session: after ending Thursday at $45.61, Rogers Communication dropped to $45.1 early in yesterday's session and closed at $45.19. In total, it lost 0.92%. Daily trading volume (335,865 shares) increased, making up 137% of the 21-day average (244,539).

Capri Holdings recoils 17 cents from key resistance at $40.14

After testing beyond the $40.14 resistance level, Capri Holdings price action is alternating above and below this key level.

Capri Holdings has posted further gains as part of a 4 day trend that has already seen the stock gain 8 cents. Capri Holdings pointed in the same direction yesterday: after finishing Thursday at $39.21, the fashion holding company went up by 1.94% yesterday and remained at the $39.97 level. Daily trading volume (2.29 million shares) increased, making up 107% of the 21-day average (2.15 million).

Capri Holdings is scheduled to announce earnings results Wednesday. The consensus EPS estimate is 0.94 and the consensus revenue estimate is $1.28 billion.