Yesterday at a glance: Yum! Brands recovered all the way back up to $129.2 after dipping down to $126.49.
United States New Home Sales (Dec) is next today at 15:00 UTC.
Yum! Brands's uptick comes amid good United States macroeconomic data released during the day — United States Core Durable Goods Orders released today at 13:30 UTC is better than expected at -0.1% but down from preceding data of 0.1% according to new data. Data for United States GDP released today at 13:30 UTC is better than expected with 2.9, but worse than previous figure of 3.2. United States Initial Jobless Claims improved upon its previous reading of 192,000 with a new data release of 186,000.
Visual analysis of Yum! Brands's chart shows that Yum! Brands Inc could be slowing down soon as it approaches resistance at $129.43. Of course, crossing it might suggest further gains are ahead. Trend analysis indicates that Yum! Brands made an initial breakout above its 50 day Simple Moving Average at $127.87, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Yum! Brands's upper Bollinger Band® is at $131.34, 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.
This rally in Yum! Brands's share price coincided with other consumer discretionary stocks as Walt Disney was up 2%. McDonald's gained 1.28%, as it traded at $273. Amazon was up 0.89%.
Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Pending Home Sales is projected to outperform its last figure with -0.9%. It previously stood at -4%; data will be released tomorrow at 15:00 UTC.
The market is looking forward to the release of new data: United States Core PCE Price Index (MoM) (Dec) is scheduled for tomorrow at 13:30 UTC. United States New Home Sales (Dec) scheduled to come out today at 15:00 UTC.
The stock has been trending positively for about 3 months. Yum! Brands hit a significant low of $105.25 around 3 months ago, but has since recovered 22.1%.