Friday at a glance: a mostly flat day so far for Yum, a fast food corporation operating the KFC, Pizza Hut and Taco Bell brands,, range-bound between $130.72 and $131.68 and currently at $131.31.
Analysis of Yum! Brands's recent price action suggests Yum! Brands Inc is approaching key support, around 54 cents away from $130.77. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Trend analysis indicates that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Price action remains constrained around the key Fibonacci level of $130.91 currently serving as support. If price action breaks below, the next Fib hurdle is $129.05. Analysis based on the asset volatility indicates that Yum! Brands's upper Bollinger Band® is at $132.31, suggesting that a downward move may follow.
Notwithstanding Yum! Brands's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Meanwhile, mixed performances were seen by other consumer discretionary stocks as Alibaba went down to $103.65, losing 4.43% after it closed at $108.46 Friday. Tesla closed at $196.89 (down 5.03%). Walt Disney lost 2.08% Friday and closed at $108.06.
Data to be released today might clear up some of the market fog as United States Consumer Price Index figure is projected at 0.4%. It previously stood at 0.1%; data will be released tomorrow at 13:30 UTC. United States Consumer Price Index figure is projected at 6.2%. It previously stood at 6.5%; data will be released tomorrow at 13:30 UTC. United States Core Consumer Prices is expected tomorrow at 13:30 UTC.
The stock has been trending positively for about 4 months. 4 months ago, the US fast food company fell to a low of $105.25 but has since recovered 24.62%.