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April 09, 2023
Pre-open trade suggests a higher market open today with Thursday's bullish sentiment adding to the risk-on mood. After closing at $7.12 on Wednesday, Green Thumb Industries maintained a strong bullish bias that helped the stock close higher at $7.15 Thursday. 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.
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. Despite this, 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.
This rally in Green Thumb Industries's share price coincided with other health care stocks as Bristol-Myers Squibb Company traded at $70.74 after closing Thursday's trading day at $69.25 (up 2.15%). Sanofi was up 2%. Eli Lilly and Company added 1.67% to its value, and traded at $368.29.
Pointing downwards for around a month. Green Thumb Industries has shed 46.14% over the past six months.
