| 
April 09, 2023
Bright Horizons Family Solutions's bearish run has lasted 3 days so far (-$2.08). More of the same from Thursday's session: the child-care provider hovered around the $75.25 level after closing Wednesday at $75.66 and shedding 0.54%, as it reached reached Thursday's session close.
Trend analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, Bollinger Bands® shows an indication of recovery: the lower band is at $74.73, a low enough level to, generally, suggest that Bright Horizons Family Solutions is trading below its fair value. Analysis of Bright Horizons Family Solutions's recent price action suggests Bright Horizons Family Solutions could begin to recover as it approaches significant support, now 65 cents away from $74.6. Dipping below could be an indication that further losses are ahead.
With market volatility ebbing, the current technical outlook indicates Bright Horizons Family Solutions will remain range-bound for the immediate future.
Bright Horizons Family Solutions was not the only decliner in the consumer discretionary sector; Toyota went down to $138.87, losing 1.1% after it closed at $140.42 Thursday.
On the other hand, positive performances could be seen by looking at other consumer discretionary stocks as Alibaba traded at $102.74 after closing Thursday's trading day at $98.55 (up 4.25%).
Pointing downwards for around a month. 11 months ago the largest employer-sponsored child care provider reached a significant high of $132.98 but has consequently lost 43.1% since then.
