After five days of going down, Yum! Brands is up 0.69% today

From an earlier low of $126.14, Yum, a fast food corporation operating the KFC, Pizza Hut and Taco Bell brands, is on track to end the session around $127.44 after gaining 87.5 cents compared to last trading session's $126.57 (0.69%).

United States's Consumer Confidence new data released of 102.9 below its previous figure.

Yum! Brands's uptick comes amid good United States macroeconomic data released during the day — highly important Pending Home Sales data from United States beat analyst expectations of 1% with a reading of 8.1%. United States Core Durable Goods Orders beat analyst expectations of 0.1% and the previous reading of -0.4% with new data of 0.7%.

Yum! Brands's uptick comes amid disappointing United States macroeconomic data released during the session – Consumer Confidence in United States fell short of market expectations (108.5) with a reading of 102.9, continuing the decline from the previous figure of 106.

Yum! Brands Inc made an initial breakout above its 3 day Simple Moving Average at $127.36, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $127 currently serving as resistance Yum! Brands's lower Bollinger Band® is at $126.11, indicating that the market is oversold and fertile for new buyers. On the other hand, note that Yum! Brands could be slowing down soon; it is getting close to the resistance line and is now at $127.52, only 8 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.

Yum! Brands continues to move higher with technical analysis indicating the trend will continue in the short term.

A look at other consumer discretionary stocks also shows bullish price action as Lowe's gained 1.21%, currently at $206.72.

While Yum! Brands is higher so far today, these consumer discretionary stocks are struggling: after closing the previous session (yesterday) at $100.45, Walt Disney lost 75 cents and is trading around $99.7. Alibaba is down to $88.14, losing 1.24%, after ending yesterday at $89.25.

Also worthy of note, United States Crude Oil Inventories projected to decline to 440,000 while previous data was 7.65 million; data will be released tomorrow at 15:30 UTC.

The market is looking forward to the release of new data: United States ISM Manufacturing PMI (Feb) scheduled to come out tomorrow at 15:00 UTC.

The stock has been trending positively for about 4 months. The US fast food company is now trading 4.49% below the significant high of $132.52 it set around 15 days ago.