Curaleaf closes at $2.4 after gaining 3.62%

Yesterday at a glance: after dipping down to $2.19, Curaleaf regained earlier losses and reached $2.4.

Curaleaf Holdings, Inc. made an initial breakout above its 5 day Simple Moving Average at $2.42, a potential indicator of a newly emerging bullish phase. Price action overcame a known Fibonacci resistance level at $2.37 by around 3.4 cents with prices hammering out a $2.19 – $2.44 session range. On the other hand, note that although Curaleaf is appreciating today after rising as high as $2.44, price action is now slowing and consolidating around 9 cents below the $2.5 resistance level.

Overall, looking at the technical analysis landscape, it seems Curaleaf might continue pointing upwards in the short term.

A look at other health care stocks also showed bullish price action as Medtronic added 4.62% to its value, and traded at $89.69.

Curaleaf went up yesterday, yet these health care stocks did not follow — Abbott Laboratories closed at $110.4 (down 1.13%). Novo Nordisk closed at $170.48 (down 1.26%).

Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Crude Oil Inventories is projected to outperform its last figure with -1.67 million, having previously been at -4.58 million. The figure will be published tomorrow at 14:30 UTC.

Furthermore, the market is looking at as things stand, upcoming United States Core Durable Goods Orders data is projected to fall short of market expectations with newly published data of -0.2%, following on from the preceding figure of -0.1%. New data is set to be published tomorrow at 12:30 UTC.

Also worthy of note, United States Building Permits is scheduled for today at 13:30 UTC.

Pointing downwards for around 4 months. Having set a significant high of $7.57 4 months ago, the US-based cannabis dispensary is trading 69.35% lower.