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February 26, 2023
A 5 day downtrend is ongoing for Green Thumb Industries. A possible change of direction spotted from Friday; after dipping down to $8.27, Green Thumb Industries regained earlier losses and reached $8.52.
Green Thumb Industries Inc. could be slowing down soon; it is getting close to the resistance line and is now at $8.61, only 9 cents away. Crossing the resistance line could, however, suggest that further gains are ahead. Despite posting gains on Friday, Green Thumb Industries slid below its 21 day Simple Moving Average at $8.33 during the last session — an early indicator that a negative trend could be emerging.
Green Thumb Industries is likely to reverse course and start pointing downward in the short term.
While Green Thumb Industries was bullish Friday, the following health care stocks underperformed: Abbott Laboratories went down to $100.46, losing 2.04% after it closed at $102.55 Friday. Eli Lilly and Company went down to $321.64, losing 1.8% after it closed at $327.52 Friday.
Friday's gains have given market bulls further impetus to expect strong macro data going forward, such as 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 tomorrow at 13:30 UTC.
Also worthy of note, tomorrow at 15:00 UTC data for United States Pending Home Sales will be released, with an expected decline to 1% from the preceding figure of 2.5%.
The stock has been trending positively for about 29 days. Green Thumb Industries is now trading 35.85% below its 3-month high of $19.12.
