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May 14, 2023
As traders prepare for a higher market open today, Friday's bearish sentiment is in focus: after closing the previous trading day at $7.3 and dropping to $6.82, Green Thumb Industries closed Friday at $7.2. By the end of the session, Green Thumb Industries gave up a total of 1.37%.
The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions. Despite this, Green Thumb Industries could begin to recover as it approaches significant support, now 30 cents away from $6.9. Dipping below could be an indication that further losses are ahead.
In the short term, Green Thumb Industries is expected to maintain its recent downtrend and continue spiralling lower.
Green Thumb Industries was not the only decliner in the health care sector; Bristol-Myers Squibb Company slips 1.48% Friday to close at $69.08. Thermo Fisher Scientific went down to $524.65, losing 0.97% after it closed at $529.79 Friday.
On the other hand, positive performances could be seen by looking at other health care stocks as Novo Nordisk traded at $171.27 after closing Friday's trading day at $169 (up 1.35%).
Green Thumb Industries has fallen back around 53.31% from the significant high of $15.63 set 5 months ago.
