Sealed Air closed at $40.1 (down 0.3%) and added one more to its 6th straight day of losses

Investors are currently sidelined due to the Memorial Day holiday but will return to their desks tomorrow. Looking back over the previous session Friday: despite the risk-off mood, Sealed Air was range-bound between $40 to $40.66 and settled at $40.1.

Technical analysis trend indicators suggest 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. Analysis based on the asset volatility indicates that Sealed Air's lower Bollinger Band® is at $40.1, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Technical analysis of Sealed Air's past price action reveals multiple support and resistance levels: Sealed Air could begin to recover as it approaches significant support, now 26 cents away from $39.84. Dipping below could be an indication that further losses are ahead.

With market volatility ebbing, the current technical outlook indicates Sealed Air will remain range-bound for the immediate future.

On the other hand, positive performances could be seen by looking at other consumer discretionary stocks as Amazon was up 4.44%. Tesla traded at $193.17 after closing Friday's trading day at $184.47 (up 4.72%). Lowe's traded at $206.52 after closing Friday's trading day at $201.04 (up 2.73%).

Looking ahead, ongoing depreciation may be prolonged as tomorrow at 14:00 UTC data for United States Consumer Confidence will be released, with an expected decline to 99 from the preceding figure of 101.3.

On a negative trend for around 28 days. The Cryovac and Bubble Wrap developer is now trading 17.48% below its 3-month high of $63.95.