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June 11, 2023
Expected lower market open set to test ongoing trend following Friday's bullish close: generally flat but with a slight bullish bias, Green Thumb Industries ranged between $7.6 and $7.84 before closing higher at $7.83.
Trend analysis indicates that investors are seeking long positions as Green Thumb Industries Inc. price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that Green Thumb Industries's upper Bollinger Band® is at $7.86, this is a slight indication of a slowdown. Green Thumb Industries chart analysis: Green Thumb Industries could be slowing down soon; it is getting close to the resistance line and is now at $7.91, only 8 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
Overall, while Green Thumb Industries has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
A look at other health care stocks also showed bullish price action as Stryker gained 1.4%, as it traded at $280.64. Abbott Laboratories added 0.9% to its value, and traded at $101.69. Medtronic was up 0.76%.
Pointing downwards for around a month. Over the past 6 months, Green Thumb Industries has retreated 50.75% from a noteworthy peak of $15.63.
