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April 13, 2023
After closing the previous trading day at $75.62, Bright Horizons Family Solutions is up to $77.3, which makes for a move of 2.22%/$1.67 today.
Bright Horizons Family Solutions's uptick comes amid good United States macroeconomic data released during the day — highly important Crude Oil Inventories data from United States beat analyst expectations of -583,000 with a reading of 597,000.
Bright Horizons Family Solutions's uptick comes amid disappointing United States macroeconomic data released during the session – following a previous reading of 0%, Producer Price Index in United States released today at 12:30 UTC fell short of the 0.1% figure expected by analysts with an actual reading of -0.5%. Initial Jobless Claims in United States fell short of market expectations (232,000) with a reading of 239,000, continuing the decline from the previous figure of 228,000.
Bright Horizons Family Solutions Inc. broke through the $77.27 resistance and climbed above it 3 cents; next resistance level is at $78.91. Bright Horizons Family Solutions made an initial breakout above its 21 day Simple Moving Average at $77.15, a potential indicator of a newly emerging bullish phase. Despite this, Bollinger Band® analysis indicates that current price action is approaching the upper band at $79.1, thereby suggesting that Bright Horizons Family Solutions is becoming overvalued.
Overall, looking at the technical analysis landscape, it seems Bright Horizons Family Solutions likely to continue pointing upward in the short term.
This rally in Bright Horizons Family Solutions's share price coincides with other consumer discretionary stocks as Amazon is up 2.9%. Walt Disney is up 1.81%. Alibaba is trading at $95.77 after ending yesterday's session at $93.84 (up 2.06%).
Also worthy of note, United States Core Retail Sales projected to decline to -0.3% while previous data was -0.1%; data will be released tomorrow at 12:30 UTC.
Furthermore, the market is looking at United States Retail Sales figure is projected at -0.4%. It previously stood at -0.4%; data will be released tomorrow at 12:30 UTC.
Trending downwards for around a month. Over the past 11 months, the largest employer-sponsored child care provider has retreated 43.13% from a noteworthy peak of $132.98.
