Curaleaf sheds 3.72% within $2.42 to $2.55 daily range

Investors are currently sidelined due to the Good Friday holiday but will return to their desks Monday. Looking back over the previous session Thursday: the US-based cannabis dispensary found support around the $2.44 level, after closing Wednesday at $2.53 and dropping by 3.72% Thursday.

Non Farm Payrolls in United States fell short of market expectations (239,000) with a reading of 236,000, continuing the decline from the previous figure of 326,000.

This down-slide takes place despite the positive US macroeconomics indicators data that was published earlier — United States Unemployment Rate beat the 3.6 projections, with 3.5.

While price action maintains a negative bias, United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 226,100, while the previous figure was 181,100.

Trend analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to momentum evaluation, the Relative Strength Index indicates Curaleaf is in strong oversold condition. Analysis based on the asset volatility indicates that Bollinger Bands® shows an indication of recovery: the lower band is at $2.29, a low enough level to, generally, suggest that Curaleaf is trading below its fair value. A study of Curaleaf's historical price actions shows Curaleaf could begin to recover as it approaches significant support, now 5 cents away from $2.39. Dipping below could be an indication that further losses are ahead.

All in all, the technical analysis suggests Curaleaf has no clear-cut direction.

On the other hand, positive performances could be seen by looking at other health care stocks as Bristol-Myers Squibb Company was up 2.15%. Sanofi traded at $55.93 after closing Thursday's trading day at $54.84 (up 2%). Eli Lilly and Company added 1.67% to its value, and traded at $368.29.

Pointing downwards for around 3 months. Curaleaf hit a significant low of $2.44 around 2 days ago, but has since recovered 3.86%.