Cresco Labs levels up 6.95% in yesterday's session; traders eye opening bell in 6 hours time

Yesterday at a glance: Cresco Labs rallied 13 cents (6.95%) deep into the session, closing at $two.

United States ADP Nonfarm Employment Change (Feb) is next today at 13:15 UTC.

Meanwhile, United States API Weekly Crude Oil Stock came out at -3.83 million, while a consensus of analysts was expecting -308,000. United States 3-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.635, while the previous figure was 4.073.

Cresco Labs Inc. could be slowing down soon as it approaches resistance at $2.06. Of course, crossing it might suggest further gains are ahead. Despite posting gains on yesterday, Cresco Labs slid below its 50 day Simple Moving Average at $1.85 during the last session — an early indicator that a negative trend could be emerging. Cresco Labs's upper Bollinger Band® is at $1.96, this is a slight indication of a slowdown. Despite this, price action overcame a known Fibonacci resistance level at $1.96 by around 4.08 cents with prices hammering out a $1.83 – $two session range.

Technical analysis of Cresco Labs price action suggests it is likely to undergo a short-term reversal amid broader bullish sentiment.

Cresco Labs went up yesterday, yet these health care stocks did not follow — Abbott Laboratories went down to $100, losing 2.7% after it closed at $102.75 yesterday. Medtronic drops 2.67% yesterday to close at $81.93. CVS Health went down 3.04%, closed at $82.97.

Furthermore, the market is looking at as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of 395,000, following on from the preceding figure of 1.17 million. New data is set to be published today at 15:30 UTC.

The market is looking forward to the release of new data: United States ADP Nonfarm Employment Change (Feb) scheduled to come out today at 13:15 UTC. United States JOLTs Job Openings (Jan) is scheduled for today at 15:00 UTC.

Cresco Labs hit a significant low of $1.72 around 9 days ago, but has since recovered 8.72%.