Curaleaf currently down 1.5% halfway through today

While bearish sentiment is dominating the market, the US-based cannabis dispensary is maintaining its poise around $2.96 while ranging between $2.91 and $3.1 so far today.

New United States Initial Jobless Claims data fell short of the 250,000 projected by analysts with a reading of 262,000 while failing to improve upon the previous reading from last month (262,000).

This down-slide takes place despite the positive US macroeconomics indicators data that was published earlier — highly important Retail Sales data from United States beat analyst expectations of -0.1% with a reading of 0.3%.

While price action maintains a negative bias, United States Philadelphia Fed Manufacturing Index (Jun) released today at 12:30 UTC with a figure of -13.7, while the previous figure was -10.4.

Curaleaf Holdings, Inc. made an initial break below its 5 day Simple Moving Average at $2.95, a possible indication of a forthcoming negative trend. Curaleaf's upper Bollinger Band® is at $3.05 which indicates a further downward move may follow. On the other hand, note that Curaleaf could begin to recover as it approaches significant support, now 7 cents away from $2.88. Dipping below could be an indication that further losses are ahead.

In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Curaleaf.

Positive performances can be seen by looking at other health care stocks as UnitedHealth is trading at $471 after ending yesterday's session at $458 (up 2.84%). Astrazeneca PLC is up 2.28%. Novartis added 1.64% to its value, now trading at $101.31.

The stock has been trending positively for about a month. The US-based cannabis dispensary reached a significant high of $7.57 around 6 months ago but has lost 60.37% since then.