Sealed Air ended the session at $42.06, continuing its bearish run

Having fallen $5.31 in 4 days, Yesterday's session continued the recent downtrend: slightly down but mostly flat: Sealed Air ranged between $41.91 and $43.35 before closing at $42.06.

Initial Jobless Claims data from United States will be released today at 12:30 UTC with analysts expecting a decline to 240,000. Potentially significant price fluctuations in Sealed Air are expected to follow.

United States Crude Oil Inventories released earlier showed a marked improvement to -1.28 million from the preceding data of -5 million, but fell short of the -1.1 million figure forecast by a consensus of market analysts.

Meanwhile, United States Interest Rate released yesterday at 18:00 UTC with a figure of 5.25, while the previous figure was five. United States ISM Non-Manufacturing PMI (Apr) came out at 51.9, while a consensus of analysts was expecting 51.8.

A study of Sealed Air's chart reveals various key levels to watch: Sealed Air Corp could begin to recover as it approaches significant support, now 53 cents away from $41.53. Dipping below could be an indication that further losses are ahead. With regards to technical trend indicators, chart analysis show 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. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at $42.76, a low enough level to, generally, suggest that Sealed Air is trading below its fair value.

All in all, the technical analysis suggests Sealed Air has no clear-cut direction.

Sealed Air was not the only decliner in the consumer discretionary sector; Starbucks plunges 9.17% yesterday to close at $114.46. McDonald's went down to $295.22, losing 0.96% after it closed at $298.07 yesterday.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as tomorrow at 12:30 UTC data for United States Non Farm Payrolls will be released, with an expected decline to 180,000 from the preceding figure of 236,000. United States Initial Jobless Claims projected to decline to 240,000 while previous data was 230,000; data will be released today at 12:30 UTC. Tomorrow at 12:30 UTC data for United States Unemployment Rate will be released, with an expected decline to 3.6 from the preceding figure of 3.5.

The Cryovac and Bubble Wrap developer is now trading 23.29% below its 3-month high of $68.48.