Sealed Air slides 1.5%; closes lower for four consecutive days

A quick look at yesterday: during yesterday's session, Sealed Air toiled and struggled for upward momentum before closing at $44.1. By the close, the the packaging company suffered a 67 cents or 1.5% loss.

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. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at $44.77, a low enough level to, generally, suggest that Sealed Air is trading below its fair value.

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; Toyota went down 1.78%, closed at $135.9. McDonald's lost 1.25% yesterday and closed at $267.2. Walt Disney lost 1.16% yesterday and closed at $93.2.

Trending downwards for around a month. The Cryovac and Bubble Wrap developer is now trading 14.5% below its 3-month high of $70.17.