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March 15, 2023
Today at a glance: during today's session, Green Thumb Industries toiled and struggled for upward momentum before closing at $8. By the close, the Green Thumb Industries suffered a 0 cents or 0.5% loss.
Green Thumb Industries is currently trading at $8 following the release of Crude Oil Inventories data from the United States.
Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at $7.87, a low enough level to, generally, suggest that Green Thumb Industries is trading below its fair value.
Overall, the technical outlook suggests Green Thumb Industries is likely to remain muted for the immediate future, with no clear-cut direction.
Green Thumb Industries was not the only decliner in the health care sector; Thermo Fisher Scientific went down to $542.7, losing 2.39% after it closed at $555.96 today.
On the other hand, positive performances could be seen by looking at other health care stocks as Amgen added 1.87% to its value, and traded at $234.9. Bristol-Myers Squibb Company traded at $67.48 after closing today's trading day at $66.47 (up 1.52%).
In addition, United States Initial Jobless Claims is projected to outperform its last figure with 205,000. It previously stood at 211,000; data will be released tomorrow at 12:30 UTC.
Furthermore, United States Philadelphia Fed Manufacturing Index (Mar) scheduled to come out tomorrow at 12:30 UTC. United States Building Permits (Feb) is expected tomorrow at 12:30 UTC.
The stock has been trending positively for about a month. Approximately 11 months ago, Green Thumb Industries reached a significant high of $19.09 but has struggled to hold onto its gains and declined 58% since then.
