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February 27, 2023
Curaleaf recovered from the previous trading session's losses and went up to $3.67 Friday after it traded lower at $3.57.
- United States Core Durable Goods Orders data will be released today at 13:30 UTC, with an expected improvement to 0.1% (previous figure was -0.2%).
- Friday's gains are in contrast to Curaleaf's bearish trend (lasting 6 days) during which it lost 27.88 cents of its value.
Technical analysis of Curaleaf before macro data is released:
Curaleaf's notable support and resistance levels: Curaleaf Holdings, Inc. could be slowing down soon as it approaches resistance at $3.72. Of course, crossing it might suggest further gains are ahead. With regards to technical trend indicators, chart analysis show 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. Analysis based on the asset volatility indicates that Curaleaf's lower Bollinger Band® is at $3.62, indicating that the market is oversold and fertile for new buyers.
With market volatility ebbing, the current technical outlook indicates Curaleaf will remain range-bound for the immediate future.
Coming up for Curaleaf — United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%. It previously stood at -0.2%; data will be released today at 13:30 UTC. As things stand, upcoming United States Pending Home Sales data is projected to fall short of market expectations with newly published data of 1%, following on from the preceding figure of 2.5%. New data is set to be published today at 15:00 UTC.
As the markets get ready for more data to be released — Abbott Laboratories lost 2.04% Friday and closed at $100.46. Eli Lilly and Company closed at $321.64 (down 1.8%). Pfizer stumbles 1.3% Friday to close at $42.3.
Pointing downwards for around 2 months. The leading medical and recreational marijuana dispensary reached a significant high of $7.57 around 2 months ago but has lost 51.64% since then.
