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April 06, 2023
A quick look at today: after closing at $7.12 on yesterday, Green Thumb Industries maintained a strong bullish bias that helped the stock close higher at $7.15 today. However, market bears ensured the Green Thumb Industries topped out at $7.46 and that by the end of the session, the market had marked out a distinct $7.08 to $7.46 range.
On the flip side, United States Initial Jobless Claims fell short of the 200,000 projections, with new data of 228,000. United States Crude Oil Inventories fell short of the -2.33 million projections, with new data of -3.74 million.
Meanwhile, United States ISM Non-Manufacturing PMI (Mar) came out at 51.2, while a consensus of analysts was expecting 54.5.
Green Thumb Industries Inc. made an initial breakout above its 5 day Simple Moving Average at $7.42, a potential indicator of a newly emerging bullish phase. Green Thumb Industries's lower Bollinger Band® is at $7.03, indicating that the market is oversold and fertile for new buyers. In contrast, after reaching the known resistance zone beginning at $7.38, Green Thumb Industries price action retreated approximately 23 cents.
Green Thumb Industries continues to move higher with technical analysis indicating the trend will continue in the short term.
A look at other health care stocks also showed bullish price action as Bristol-Myers Squibb Company traded at $70.74 after closing today's trading day at $69.25 (up 2.15%). Sanofi added 2% to its value, and traded at $55.93. Eli Lilly and Company traded at $368.29 after closing today's trading day at $362.24 (up 1.67%).
Furthermore, the market is looking at United States Non Farm Payrolls projected to come out at 239,000 — worse than previous data of 311,000; data will be released tomorrow at 12:30 UTC.
Elsewhere, United States Unemployment Rate is expected tomorrow at 12:30 UTC.
Trending downwards for around a month. 2 days ago, Green Thumb Industries fell to a low of $7.05 but has since recovered 0.99%.
