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June 21, 2023
Generally flat but with a slight bullish bias, Green Thumb Industries ranged between $7.35 and $7.69 before closing higher at $7.58.
- United States Fed Chair Powell testimony is next today at 14:00 UTC.
- Yesterday's gains added to Green Thumb Industries's bullish trend that has lasted for 5 days so far, during which it increased a total of 21 cents.
Earlier data releases related to Green Thumb Industries – United States Building Permits (May) came out at 1.49 million, while a consensus of analysts was expecting 1.43 million. United States Housing Starts came out at 21.7%, better than analyst estimates of -0.8% and improving upon the previous reading of -2.9%.
Here is the technical analysis of Green Thumb Industries before macro data is released:
Concerning technical analysis and more specifically, trend indicators, Green Thumb Industries Inc. made an initial breakout above its 10 day Simple Moving Average at $7.56, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $7.79, thereby suggesting that Green Thumb Industries is becoming overvalued. Technical chart analysis shows Green Thumb Industries could be slowing down soon as it approaches resistance at $7.73. Of course, crossing it might suggest further gains are ahead.
Overall, while Green Thumb Industries has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Coming up for Green Thumb Industries — tomorrow at 15:00 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 1.87 million from the preceding figure of 7.92 million. United States Initial Jobless Claims is projected to outperform its last figure with 260,000. It previously stood at 262,000; data will be released tomorrow at 12:30 UTC.
As the markets get ready for more data to be released — Pfizer closed at $39.34 (down 1.8%). UnitedHealth traded at $469.39 after closing yesterday's trading day at $458.49 (up 2.38%). Sanofi added 2.04% to its value, and traded at $53.1.
On a negative trend for around a month. 6 months ago Green Thumb Industries reached a significant high of $15.63 but has consequently lost 51.65% since then.
