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March 03, 2023After closing the previous trading day at $83.49, Bright Horizons Family Solutions is up to $85.11, which makes for a move of 1.95%/$1.62 today.
United States ISM Non-Manufacturing PMI (Feb) is next today at 15:00 UTC.
Bright Horizons Family Solutions's uptick comes amid good United States macroeconomic data released during the day — data for United States Initial Jobless Claims published yesterday at 13:30 UTC came out at 190,000, beating projections of 195,000 and showing improvement over the preceding figure of 192,000.
Meanwhile, United States Nonfarm Productivity (QoQ) (Q4) came out at 1.7, while a consensus of analysts was expecting 2.6. United States Unit Labor Costs (QoQ) (Q4) released yesterday at 13:30 UTC with a figure of 3.2, while the previous figure was two.
Trend-following investors would be interested to note that investors are seeking long positions as Bright Horizons Family Solutions Inc. price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $84.12, thereby suggesting that Bright Horizons Family Solutions is becoming overvalued.
Overall, while Bright Horizons Family Solutions has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
This rally in Bright Horizons Family Solutions's share price coincides with other consumer discretionary stocks as Toyota is up 1.3%. Amazon gained 1.17%, currently at $93.21. Tesla added 1.38% to its value, now trading at $193.54.
The market is looking forward to the release of new data: United States ISM Non-Manufacturing PMI (Feb) is expected today at 15:00 UTC.
The child-care provider has managed to gain 27% so far this year despite trading at lows around $55.75 previously.
