Following yesterday's session which closed at $59.63, Bright Horizons Family Solutions went up to $62.12 today only to drop back and trade at $62.1.
United States's Consumer Confidence new data released of 102.5 below its previous figure.
On the flip side, following a previous reading of 107.8, Consumer Confidence in United States released today at 14:00 UTC fell short of the 106.5 figure expected by analysts with an actual reading of 102.5.
Meanwhile, United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Aug) came out at 13.1, while a consensus of analysts was expecting 14.4. United States Services PMI released yesterday at 13:45 UTC with a figure of 46.6, while the previous figure was 49.3.
The Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Bright Horizons Family Solutions has just crossed its upper Bollinger Band® at $61.48, suggesting further gains could be on the cards. Despite this, Bright Horizons Family Solutions could be slowing down soon as it approaches resistance at $62.21. Of course, crossing it might suggest further gains are ahead.
Overall, looking at the technical analysis landscape, it seems Bright Horizons Family Solutions might continue pointing upwards in the short term.
This rally in Bright Horizons Family Solutions's share price coincides with other consumer discretionary stocks as Nike is trading at $90.78 after ending yesterday's session at $88 (up 3.15%). Tesla is up 5.31%. Lowe's added 2.81% to its value, now trading at $192.88.
Moreover, macro data could boost sentiment further as United States Crude Oil Inventories is projected to outperform its last figure with 200,000, having previously been at -1.73 million. The figure will be published tomorrow at 14:30 UTC.
Furthermore, the market is looking at United States New Home Sales (Sep) is scheduled for tomorrow at 14:00 UTC.
Bright Horizons Family Solutions traded as high as $169.73 before shedding 53.1% lower over the past six months.