Positive price action presents imminent price targets for these 3 stocks

Green Thumb Industries Inc., SLM Corporation, Olin Corporation, among others, are the stocks approaching important price targets.

Today's session summary: 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. Let's review some stocks and their price targets.

Buyers pushing Green Thumb Industries towards its price target of $7.45; currently at $7.4

Green Thumb Industries Inc.'s run now faces a challenge at $7.45, which is only 5 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.

Green Thumb Industries has posted further gains as part of a 6 day trend that has already seen the stock gain 26.7 cents. today's session pointed in the same direction — generally flat but with a slight bullish bias, Green Thumb Industries ranged between $7.15 and $7.4 before closing higher at $7.4. The day's trading volume totalled 132,617 shares — under the 21-day average of 404,178.

Buyers pushing SLM towards its price target of $16.06; currently at $16

Sallie Mae's recent run now faces a major challenge as concentrated supply is likely found at $16.06 with price action currently 5 cents away.

SLM has posted further gains as part of a 6 day trend that has already seen the stock gain 24 cents. today's session pointed in the same direction — the consumer bank rallied 3.02% and maintained $16. Trading volume totalled 1.90 million which equates to around 76% of the stock's 21-day average today.

Buyers pushing Olin towards its price target of $50.69; currently at $50.58

An influx of buyers helped the chemicals and ammo distributor to end the session higher around $50.58, while establishing a $49.58 to $50.72 session range today. Today's gains stand in contrast to Olin's slide (lasting 7 days) in which it lost $4.51. Today's trading volume was 1.37 million shares which is slightly under the 21-day average of 1.42 million.

The chemical products and ammunition manufacturer is now trading 16.47% below its 3-month high of $66.92. Olin's market cap currently stands at $6.54 billion with an average daily volume of 1.42 million shares. Olin is forecasted to generate revenues of $2.19 billion and EPS of $1.27.

It will be interesting to follow how Olin's run now faces a challenge at $50.69, which is only 11 cents away.

Just recently, Olin's board disclosed a quarterly dividend of 20 cents per share to be paid on Friday, June 9th for all shareholders of record up until Thursday, May 11th. Based on current prices, the company's decision thereby provides Olin investors with an annual dividend yield of 1.58%.