After five days of going down, Village Farms is up 2.88% today

After closing yesterday at 63.12 cents, the controlled environment agriculture pioneer went up to 66.89 cents only to drop back some of the way, and is now trading at 64.94 cents.

Village Farms's uptick comes amid good United States macroeconomic data released during the day — highly important Retail Sales data from United States beat analyst expectations of -0.1% with a reading of 0.3%.

Village Farms's uptick comes amid disappointing United States macroeconomic data released during the session – new United States Initial Jobless Claims data fell short of the 250,000 projected by analysts with a reading of 262,000 while failing to improve upon the previous reading from last month (262,000).

At the same time, United States Philadelphia Fed Manufacturing Index (Jun) released today at 12:30 UTC with a figure of -13.7, while the previous figure was -10.4.

Village Farms International, Inc. made an initial breakout above its 10 day Simple Moving Average at 65.476 cents, a potential indicator of a newly emerging bullish phase. Having stamped out a session range of 64 cents to 66.89 cents, Fibonacci-inclined Village Farms traders were highly concentrated around active Fibonacci resistance at 66.385 cents. Despite this, although Village Farms is appreciating today after rising as high as 66.89 cents, price action is now slowing and consolidating around 3 cents below the 67.7067 cents resistance level.

Following today's unexpected gains, extensive multifactorial technical analysis forecasts Village Farms to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the the controlled environment agriculture pioneer is expected to pick up significant bullish sentiment in the coming days.

This rally in Village Farms's share price coincides with other consumer staples stocks as Anheuser-Busch is up 3.05% to $58.4. Unilever is up 1.95%. Philip Morris International is trading at $94.46 after ending yesterday's session at $93.06 (up 1.5%).

The controlled environment agriculture pioneer has fallen back around 81.16% from the significant high of $3.35 set 10 months ago.