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May 26, 2023Bright Horizons Family Solutions is in the midst of a 6 day downtrend. A possible reversal detected from yesterday; pronounced bullish sentiment in the market helped the largest employer-sponsored child care provider to make a notable 0.38% gain yesterday, rising 31 cents and ultimately closing at $82.64.
Bright Horizons Family Solutions's uptick comes amid good United States macroeconomic data released during the day — data from United States concerning GDP was released yesterday at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 2.6 to 1.3 this month. Data from United States concerning Initial Jobless Claims was released yesterday at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 225,000 to 229,000 this month.
Bright Horizons Family Solutions's uptick comes amid disappointing United States macroeconomic data released during the session – United States Pending Home Sales improved upon its previous reading of -5.2% with a new data release of 0%.
Technical chart analysis shows although Bright Horizons Family Solutions Inc. is appreciating today after rising as high as $83.21, price action is now slowing and consolidating around 60 cents below the $83.24 resistance level.
Bright Horizons Family Solutions went up yesterday, yet these consumer discretionary stocks did not follow — Alibaba lost 3% yesterday and closed at $78.78. Home Depot closed at $286.75 (down 1.49%).
Also worthy of note, United States Core Durable Goods Orders projected to decline to 0% while previous data was 0.3%; data will be released today at 12:30 UTC.
The market is looking forward to the release of new data: United States Core PCE Price Index (MoM) (Apr) scheduled to come out today at 12:30 UTC.
Bright Horizons Family Solutions hit a significant low of $55.75 around 7 months ago, but has since recovered 47.68%.
