| 
March 13, 2023
Sealed Air lost 31 cents and now trades below the $45 level for the first time in 4 months.
Amid the market gloom, United States Participation Rate (Feb) released today at 13:30 UTC with a figure of 118.3, while the previous figure was 62.4.
Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to momentum evaluation, the Relative Strength Index indicates Sealed Air is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. According to asset volatility analysis, Bollinger Bands® shows an indication of recovery: the lower band is at $45.54, a low enough level to, generally, suggest that Sealed Air is trading below its fair value. A study of Sealed Air's historical price actions shows Sealed Air could begin to recover as it approaches significant support, now 50 cents away from $44.46. Dipping below could be an indication that further losses are ahead.
Overall, the technical outlook suggests Sealed Air is likely to remain muted for the immediate future, with no clear-cut direction.
Sealed Air was not the only decliner in the consumer discretionary sector; Walt Disney went down 1.04%, closed at $93.57.
On the other hand, positive performances could be seen by looking at other consumer discretionary stocks as Pinduoduo was up 6.35%. Amazon traded at $92.43 after closing today's trading day at $90.73 (up 1.87%).
Furthermore, United States Consumer Price Index is expected tomorrow at 12:30 UTC. United States Consumer Price Index is expected tomorrow at 12:30 UTC. United States Core Consumer Prices is expected tomorrow at 12:30 UTC.
Pointing downwards for around a month. The packaging company has shed 13.38% over the past three months.
