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May 21, 2023
Friday at a glance: despite the risk-off mood, Bright Horizons Family Solutions was range-bound between $86.7 to $88.18 and settled at $87.
Bright Horizons Family Solutions Inc. made an initial break below its 5 day Simple Moving Average at $87.21, a possible indication of a forthcoming negative trend. On the other hand, note that Bright Horizons Family Solutions could begin to recover as it approaches significant support, now 59 cents away from $86.41. Dipping below could be an indication that further losses are ahead.
Several technical indicators are adding weight to the bearish momentum seen Friday and forecasting Bright Horizons Family Solutions to extend its recent losses.
Bright Horizons Family Solutions was not the only decliner in the consumer discretionary sector; Nike drops 3.46% Friday to close at $118.87. Walt Disney drops 2.57% Friday to close at $93.76. Alibaba closed at $84 (down 2.09%).
This year has been a bright one for the child-care provider after trading as low as $55.75 and going on to appreciate by 32% year to date.
