Yesterday at a glance: an influx of buyers helped the US fast food company to end the session higher around $129.64, while establishing a $126.96 to $129.73 session range yesterday.
United States Consumer Price Index is next today at 13:30 UTC.
At the same time, United States Federal Budget Balance (Nov) released yesterday at 19:00 UTC with a figure of -249 billion, while the previous figure was -88 billion. United States 10-Year Note Auction came out at 3.625. Fresh 3-Year Note Auction data from United States came out at 4.093.
Trend and momentum analysis indicates that Yum! Brands Inc made an initial breakout above its 10 day Simple Moving Average at $128.74, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $132.22, thereby suggesting that Yum! Brands is becoming overvalued. Visual analysis of Yum! Brands's chart shows that Yum! Brands could be slowing down soon; it is getting close to the resistance line and is now at $130.59, only 95 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
With market volatility ebbing, the current technical outlook indicates Yum! Brands will remain range-bound for the immediate future.
This rally in Yum! Brands's share price coincided with other consumer discretionary stocks as Nike gained 2.42%, as it traded at $112.07. McDonald's was up 1.68%.
While Yum! Brands was bullish yesterday, the following consumer discretionary stocks underperformed: Tesla went down 6.27%, closed at $179.05.
Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Crude Oil Inventories is projected to outperform its last figure with -3.91 million, having previously been at -5.19 million. The figure will be published tomorrow at 15:30 UTC.
Furthermore, the market is looking at United States Consumer Price Index figure is projected at 0.3%. It previously stood at 0.4%; data will be released today at 13:30 UTC. United States Interest Rate figure is projected at 4.5. It previously stood at four; data will be released tomorrow at 19:00 UTC.
The stock has been trending positively for about 2 months. Having set a significant high of $138.86 2 months ago, the US fast food company is trading 21.34% lower.