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May 30, 2023Investors are currently sidelined due to the Memorial Day holiday but will return to their desks today. Looking back over the previous session Friday: having closed Thursday at $82.64, bullish sentiment helped Bright Horizons Family Solutions to reach highs around $84 before paring gains and ending Friday at $83.54.
United States Consumer Confidence data will be released today at 14:00 UTC, with an expected decline to 99.
Bright Horizons Family Solutions Inc. made an initial breakout above its 3 day Simple Moving Average at $82.93, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $83.75 currently serving as resistance On the other hand, note that Bright Horizons Family Solutions could be slowing down soon as it approaches resistance at $84.37. Of course, crossing it might suggest further gains are ahead.
Overall, looking at the technical analysis landscape, it seems Bright Horizons Family Solutions might continue pointing upwards in the short term.
A look at other consumer discretionary stocks also showed bullish price action as Amazon added 4.44% to its value, and traded at $120.11. Tesla was up 4.72%. Lowe's was up 2.73%.
Furthermore, the market is looking at United States Consumer Confidence expected to decline to 99 while its preceding data was 101.3, data will be available today at 14:00 UTC.
Furthermore, the market is looking at United States JOLTs Job Openings (Apr) is expected tomorrow at 14:00 UTC.
The child-care provider has gained 27.43% since its lowest print of $55.75 earlier this year.
