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April 14, 2023
Green Thumb Industries slides down from $7.3 to $7.11, losing 19.28 cents (2.64%).
Following a previous reading of 0%, Core Retail Sales in United States released today at 12:30 UTC fell short of the -0.3% figure expected by analysts with an actual reading of -0.8%. Retail Sales in United States fell short of market expectations (-0.4%) with a reading of -1%, continuing the decline from the previous figure of -0.2%. Highly important Producer Price Index data from United States beat analyst expectations of 0.1% with a reading of -0.5%.
Visual analysis of Green Thumb Industries's chart shows that Green Thumb Industries Inc. could begin to recover as it approaches significant support, now 3 cents away from $7.08. Dipping below could be an indication that further losses are ahead. Concerning technical analysis and more specifically, trend indicators, Green Thumb Industries made an initial break below its 10 day Simple Moving Average at $7.27, a possible indication of a forthcoming negative trend. Asset volatility analysis shows that Green Thumb Industries's lower Bollinger Band® is at $6.74, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Notwithstanding Green Thumb Industries's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
In the meantime, negative performances are also seen in other health care stocks as after closing the previous session (yesterday) at $526.23, UnitedHealth lost $14.96 and is trading around $511.27. Johnson & Johnson is trading around $164.49 (down 0.98%). Pfizer is down to $41.12, losing 0.86%, after ending yesterday at $41.47.
Trending downwards for around a month. Green Thumb Industries hit a significant low of $seven around 3 days ago, but has since recovered 4.29%.
