| 
May 11, 2023
A quick look at today: the medical and recreational cannabis provider plunged into the red after losing 10.88%, declining to $4.67.
United States Producer Price Index released earlier showed a marked improvement to 0.2% from the preceding data of -0.4%, but fell short of the 0.3% figure forecast by a consensus of market analysts. Data from United States concerning Initial Jobless Claims was released today at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 242,000 to 264,000 this month.
This down-slide takes place while positive United States macroeconomics indicators data was published earlier – United States Crude Oil Inventories beat the -917,000 projections, with 2.95 million.
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. Trulieve Cannabis is currently flirting with an active Fibonacci support level around $5. Trulieve Cannabis has just crossed the lower Bollinger Band® at $4.76, indicating further losses could be forthcoming.
Looking forward, Trulieve Cannabis is poised to extend its strong downtrend and continue declining.
Trulieve Cannabis was not the only decliner in the health care sector; Pfizer went down 0.82%, closed at $37.89. Amgen went down 0.78%, closed at $234.11.
On the other hand, positive performances could be seen by looking at other health care stocks as Bristol-Myers Squibb Company traded at $69.08 after closing today's trading day at $68.49 (up 0.86%).
The medical and recreational cannabis provider traded as high as $15.16 before shedding 53.05% lower over the past six months.
