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March 08, 2023
Green Thumb Industries hovered around the $8.52 level after closing Monday at $8.64 and shedding 1.45%, as it reached reached yesterday's session close.
- United States ADP Nonfarm Employment Change (Feb) is next today at 13:15 UTC.
- Yesterday's fall came on the back of a 5 day uptrend, during which Green Thumb Industries added 4.35% to its share price
Earlier data releases related to Green Thumb Industries – United States API Weekly Crude Oil Stock released yesterday at 21:30 UTC with a figure of -3.83 million, while the previous figure was 6.20 million. 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.
Technical analysis of Green Thumb Industries before macro data is released:
Green Thumb Industries Inc. made an initial break below its 50 day Simple Moving Average at $8.32, a possible indication of a forthcoming negative trend. Green Thumb Industries's upper Bollinger Band® is at $9 which indicates a further downward move may follow. Despite this, Green Thumb Industries could begin to recover as it approaches significant support, now 22 cents away from $8.3. Dipping below could be an indication that further losses are ahead.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts Green Thumb Industries to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the Green Thumb Industries is expected to attract significant bearish sentiment in the coming days.
Coming up for Green Thumb Industries — United States ADP Nonfarm Employment Change (Feb) is expected today at 13:15 UTC. United States Crude Oil Inventories projected to decline to 395,000 while previous data was 1.17 million; data will be released today at 15:30 UTC.
As the markets get ready for more data to be released — Abbott Laboratories lost 2.7% yesterday and closed at $100. Medtronic drops 2.67% yesterday to close at $81.93. CVS Health lost 3.04% yesterday and closed at $80.45.
The stock has been trending positively for about a month. Green Thumb Industries is now trading 33% below its 3-month high of $19.09.
