Yum! Brands gained 53 cents and closed above the $129 level for the first time in 9 months.
United States Non Farm Payrolls data will be released today at 13:30 UTC, with an expected decline to 200,000.
Yum! Brands's uptick comes amid good United States macroeconomic data released during the day — United States Initial Jobless Claims beat analyst expectations of 235,000 and the previous reading of 241,000 with new data of 225,000.
At the same time, United States ISM Manufacturing PMI (Nov) released yesterday at 15:00 UTC with a figure of 49, while the previous figure was 50.2. United States Core PCE Price Index (MoM) (Oct) came out at 0.2, while a consensus of analysts was expecting 0.3.
Yum! Brands's notable support and resistance levels: Yum! Brands Inc reversed direction at $129.73 resistance zone and retreated back 54 cents below it. Trend-following investors would be interested to note that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Momentum evaluation shows that according to technical analysis of Yum! Brands's Relative Strength Index (RSI), the market is currently overbought. According to asset volatility analysis, Yum! Brands's upper Bollinger Band® is at $128.87, this is a slight indication of a slowdown.
Overall, while Yum! Brands has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
A look at other consumer discretionary stocks also showed bullish price action as Nike traded at $111.11 after closing yesterday's trading day at $109.69 (up 1.29%). Lowe's was up 1.38%.
Yum! Brands went up yesterday, yet these consumer discretionary stocks did not follow — Alibaba slips 1.85% yesterday to close at $87.56.
Also worthy of note, United States Non Farm Payrolls expected to decline to 200,000 while its preceding data was 261,000, data will be available today at 13:30 UTC.
Furthermore, the market is looking at United States Unemployment Rate is expected today at 13:30 UTC.
The stock has been trending positively for about a month. Having set a significant high of $138.86 a month ago, Yum, a fast food corporation operating the KFC, Pizza Hut and Taco Bell brands, is trading 22.24% lower.