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March 12, 2023
Friday at a glance: after dropping down to $3.65, the leading medical and recreational marijuana dispensary recovers some losses and is currently trading at $3.71.
Trend-following investors would be interested to note that Curaleaf Holdings, Inc. made an initial breakout above its 10 day Simple Moving Average at $3.73, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Curaleaf's upper Bollinger Band® is at $3.93, suggesting that a downward move may follow. Support/Resistance levels obtained from chart analysis indicate that Curaleaf is approaching key support, around 11 cents away from $3.6. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Overall, the technical outlook suggests Curaleaf is likely to remain muted for the immediate future, with no clear-cut direction.
Meanwhile, mixed performances were seen by other health care stocks as Medtronic went down to $76.72, losing 1.64% after it closed at $78 Friday. AbbVie was up 1.6%. Thermo Fisher Scientific lost 1.7% Friday and closed at $543.83.
Pointing downwards for around 2 months. Approximately 3 months ago, the leading medical and recreational marijuana dispensary reached a significant high of $7.57 but has struggled to hold onto its gains and declined 51% since then.
