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March 08, 2023
A quick look at yesterday: Curaleaf recovered all the way back up to $3.85 after dipping down to $3.69.
United States ADP Nonfarm Employment Change (Feb) is next today at 13:15 UTC.
At the same time, 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.
Concerning technical analysis and more specifically, trend indicators, Curaleaf Holdings, Inc. made an initial breakout above its 21 day Simple Moving Average at $3.77, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Curaleaf's upper Bollinger Band® is at $3.95, this is a slight indication of a slowdown. A study of Curaleaf's historical price actions shows Curaleaf could be slowing down soon as it approaches resistance at $3.9. Of course, crossing it might suggest further gains are ahead.
Overall, while Curaleaf has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
While Curaleaf was bullish yesterday, the following health care stocks underperformed: Abbott Laboratories closed at $100 (down 2.7%). Medtronic closed at $79.74 (down 2.67%). CVS Health went down 3.04%, closed at $82.97.
Furthermore, the market is looking at United States Crude Oil Inventories expected to decline to 395,000 while its preceding data was 1.17 million, data will be available today at 15:30 UTC.
Also worthy of note, United States ADP Nonfarm Employment Change (Feb) is scheduled for today at 13:15 UTC. United States JOLTs Job Openings (Jan) is expected today at 15:00 UTC.
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 49.93% since then.
