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March 12, 2023Friday at a glance: after closing the previous trading day at $81.73 and dropping to $77.8, the largest employer-sponsored child care provider closed Friday at $79.35. By the end of the session, Bright Horizons Family Solutions gave up a total of 2.91%.
Bright Horizons Family Solutions Inc. made an initial break below its 21 day Simple Moving Average at $79.09, a possible indication of a forthcoming negative trend. Price action remains constrained around the key Fibonacci level of $79 currently serving as support. If price action breaks below, the next Fib hurdle is $72.94. Despite this, although Bright Horizons Family Solutions is pointing down today (was as low as $77.8), it's climbing away from the $77.62 support line and is now $1.73 above it.
In the short term, Bright Horizons Family Solutions is expected to maintain its recent downtrend and continue spiralling lower.
Bright Horizons Family Solutions was not the only decliner in the consumer discretionary sector; Walt Disney went down 2.67%, closed at $96.14. Amazon went down to $90.73, losing 1.65% after it closed at $92.25 Friday. Lowe's draws back 1.2% Friday to close at $199.05.
The largest employer-sponsored child care provider has managed to gain 19.96% so far this year despite trading at lows around $55.75 previously.
