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April 09, 2023
The US stock market is closed for the Good Friday holiday and resumes tomorrow. Meanwhile, here is a recap of Thursday: Trulieve Cannabis ended Wednesday's session at $5. Thursday started with an increase to $5.42, but dropped back and closed at $5.3.
Trulieve Cannabis Corp. made an initial breakout above its 5 day Simple Moving Average at $5.33, a potential indicator of a newly emerging bullish phase. Trulieve Cannabis's lower Bollinger Band® is at $5.05, indicating that the market is oversold and fertile for new buyers. In contrast, Trulieve Cannabis could be slowing down soon; it is getting close to the resistance line and is now at $5.51, only 21 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
Overall, looking at the technical analysis landscape, it seems Trulieve Cannabis likely to continue pointing upward in the short term.
A look at other health care stocks also showed bullish price action as Bristol-Myers Squibb Company was up 2.15%. Sanofi traded at $55.93 after closing Thursday's trading day at $54.84 (up 2%). Eli Lilly and Company gained 1.67%, as it traded at $368.29.
Pointing downwards for around a month. The leading CBD products developer reached a significant high of $19.85 around 1 year, 1 day ago but has lost 74.86% since then.
