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February 22, 2023
After closing the previous trading day at $1.81, Cresco Labs is up to $1.82, which makes for a move of 0.55%/1 cents today.
- United States FOMC Meeting Minutes is next today at 19:00 UTC.
- Today's gains are adding to Cresco Labs's an 8 day bullish trend, during which it gained a total of 6 cents.
Earlier data releases related to Cresco Labs – United States Existing Home Sales (Jan) released yesterday at 15:00 UTC with a figure of 4 million, while the previous figure was 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.
Technical analysis of Cresco Labs before macro data is released:
Although Cresco Labs Inc. is appreciating today after rising as high as $1.89, price action is now slowing and consolidating around 12 cents below the $1.94 resistance level. Cresco Labs's upper Bollinger Band® is at $1.9, this is a slight indication of a slowdown.
Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates Cresco Labs is set for a reversal in the coming days.
Coming up for Cresco Labs — tomorrow at 16:00 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 1.17 million from the preceding figure of 16.28 million. As things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 200,000, following on from the preceding figure of 194,000. New data is set to be published tomorrow at 13:30 UTC.
As the markets get ready for more data to be released — after closing the previous session (yesterday) at $152, AbbVie lost $1.71 and is trading around $150.29. Eli Lilly and Company added 0.79% to its value, now trading at $330.1. Medtronic gained 0.75%, currently at $86.14.
Cresco Labs has shed $5.37 points and is languishing 74.79% lower over the past year, leaving its yearly highs around $7.18 in the rear-view mirror.
