Bearish Village Farms mostly flat today, trading at $1.02

Having lost 16 cents over 13 days, Today is looking a bit better: Village Farms trades at $1.02, after ending yesterday at $1.02.

United States FOMC Meeting Minutes is next today at 19:00 UTC.

This uncertain state for Village Farms is reflected by published market data as United States Existing Home Sales (Jan) came out at 4 million, while a consensus of analysts was expecting 4 million. United States 2-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.673, while the previous figure was 4.139. United States Existing Home Sales released earlier showed a marked improvement to -0.7% from the preceding data of -2.2%, but fell short of the 2% figure forecast by a consensus of market analysts.

Village Farms International, Inc. made an initial breakout above its 3 day Simple Moving Average at $1.04, a potential indicator of a newly emerging bullish phase. Village Farms is approaching key support, around 2 cents away from 99.6667 cents. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.

Despite muted price action in Village Farms, chart analysis indicates it is positioned for a bullish run in the short term.

Meanwhile, mixed performances are seen in other consumer staples stocks as Walmart is down 1.88% from the beginning of the session and now trades around $144.56. Anheuser-Busch is trading at $60.1 after ending yesterday's session at $59.1 (up 1.69%).

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Crude Oil Inventories projected to come out at 1.17 million — worse than previous data of 16.28 million; data will be released tomorrow at 16:00 UTC. Projections for United States Initial Jobless Claims are set for a continuation of decline with 200,000 while previous data was 194,000; data will be released tomorrow at 13:30 UTC. United States GDP figure is projected at 2.9. It previously stood at 2.9; data will be released tomorrow at 13:30 UTC.

The controlled environment agriculture pioneer reached a significant high of $6.1 around 10 months ago but has lost 83.28% since then.