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April 12, 2023
After closing the previous trading day at $1.46, Cresco Labs is up to $1.5, which makes for a move of 2.5%/3.65 cents today.
- United States Crude Oil Inventories data will be released today at 14:30 UTC, with an expected improvement to -583,000 (previous figure was -3.74 million).
- In contrast to today's gains, Cresco Labs has been on a 3 day bearish trend during which it lost 6 cents of its value.
Earlier data releases related to Cresco Labs – United States Consumer Price Index released today at 12:30 UTC with a figure of 0.1%, while the previous figure was 0.4%. United States Consumer Price Index came out at 5%, while a consensus of analysts was expecting 5.2%.
Here is the technical analysis of Cresco Labs before macro data is released:
Despite posting gains so far today, Cresco Labs Inc. slid below its 5 day Simple Moving Average at $1.48 in earlier trade — an early indicator that a negative trend could be emerging. In contrast, Cresco Labs broke through the $1.49 resistance and climbed above it 3 cents; next resistance level is at $1.53.
Cresco Labs is likely to reverse course and start pointing downward in the short term.
Coming up for Cresco Labs — United States Producer Price Index is projected to outperform its last figure with 0.1%. It previously stood at -0.1%; data will be released tomorrow at 12:30 UTC. United States Crude Oil Inventories is projected to outperform its last figure with -583,000, having previously been at -3.74 million. The figure will be published today at 14:30 UTC.
As the markets get ready for more data to be released — Novo Nordisk is up 2.96%. Astrazeneca PLC added 2.31% to its value, now trading at $73.85. Sanofi is up 1.76%.
Pointing downwards for around a month. Cresco Labs has shed $4.22 points and is languishing 74.32% lower over the past year, leaving its yearly highs around $5.68 in the rear-view mirror.
