Yesterday at a glance: the largest employer-sponsored child care provider hovered around the $66.76 level after closing Friday at $70.16 and shedding 4.85%, as it reached reached yesterday's session close.
Meanwhile, United States ISM Non-Manufacturing PMI (Nov) came out at 56.5, while a consensus of analysts was expecting 53.3. Data for United States Factory Orders published yesterday at 15:00 UTC came out at 1%, beating projections of 0.7% and showing improvement over the preceding figure of 0.3%. United States ISM Non-Manufacturing Employment (Nov) released yesterday at 15:00 UTC with a figure of 51.5, while the previous figure was 49.1.
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. Price action remains constrained around the key Fibonacci level of $67.12 currently serving as support. If price action breaks below, the next Fib hurdle is $64.37. Bright Horizons Family Solutions has just crossed the lower Bollinger Band® at $67.03, indicating further losses could be forthcoming. Bright Horizons Family Solutions broke through the $68.09 support line and dropped $1.33 below it.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Bright Horizons Family Solutions to extend its recent losses.
Bright Horizons Family Solutions was not the only decliner in the consumer discretionary sector; Walt Disney drops 3.52% yesterday to close at $99.43. Lowe's went down to $206.18, losing 4.03% after it closed at $214.84 yesterday. Toyota closed at $143.19 (down 2.28%).
In addition, United States Crude Oil Inventories is projected to outperform its last figure with -3.88 million, having previously been at -12.58 million. The figure will be published tomorrow at 15:30 UTC.
Furthermore, United States EIA Short-Term Energy Outlook is expected today at 17:00 UTC.
Bright Horizons Family Solutions hit a significant low of $55.75 around a month ago, but has since recovered 25.85%.