Sealed Air closes at $42.35, increasing by 17 cents and adding one more to its four straight day of gains

A quick look at yesterday: after closing at $42.18 on Thursday, Sealed Air rallied as high as $42.76 but ended the day at $42.35.

At the same time, United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 191,500, while the previous figure was 216,600. United States CFTC Gold speculative net positions came out at 179,800. United States CFTC Nasdaq 100 speculative net positions released yesterday at 20:30 UTC with a figure of 20,000, while the previous figure was 21,400.

Although Sealed Air Corp is appreciating today after rising as high as $42.76, price action is now slowing and consolidating around 76 cents below the $43.11 resistance level. Despite posting gains on yesterday, Sealed Air slid below its 10 day Simple Moving Average at $42.39 during the last session — an early indicator that a negative trend could be emerging.

After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest Sealed Air is set for a reversal in the coming days.

Sealed Air went up yesterday, yet these consumer discretionary stocks did not follow — Nike closed at $114.76 (down 3.46%). Walt Disney lost 2.57% yesterday and closed at $91.35. Alibaba went down 2.09%, closed at $85.77.

The Cryovac and Bubble Wrap developer is now trading 12.82% below its 3-month high of $63.95.