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June 18, 2023
A quick look at Friday: the packaging company went up to $40.43, gaining 2.69%.
Sealed Air Corp made an initial breakout above its 21 day Simple Moving Average at $40.07, a potential indicator of a newly emerging bullish phase. Despite this, Sealed Air could be slowing down soon as it approaches resistance at $40.89. Of course, crossing it might suggest further gains are ahead.
Overall, looking at the technical analysis landscape, it seems Sealed Air might continue pointing upwards in the short term.
A look at other consumer discretionary stocks also showed bullish price action as Nike gained 1.05%, as it traded at $113.59.
While Sealed Air was bullish Friday, the following consumer discretionary stocks underperformed: Toyota went down to $164.35, losing 2.28% after it closed at $168.18 Friday. Walt Disney closed at $91.32 (down 1.74%).
Sealed Air hit a significant low of $37.85 around 18 days ago, but has since recovered 4%.
