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March 05, 2023
A quick look at Friday: Green Thumb Industries rallied 5.33% and ended the session at $8.9.
Green Thumb Industries Inc. is 20 cents away from testing key resistance at $9.1. Peaking above this level could inspire market bulls and open the path to further gains. Bollinger Band® analysis indicates that current price action is approaching the upper band at $9.09, thereby suggesting that Green Thumb Industries is becoming overvalued.
Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates Green Thumb Industries is set for a reversal in the coming days.
A look at other health care stocks also showed bullish price action as Stryker gained 3.6%, as it traded at $271.53. Abbott Laboratories added 1.77% to its value, and traded at $104.45. Thermo Fisher Scientific was up 1.95%.
The stock has been trending positively for about a month. Green Thumb Industries is now trading 44.35% below its 3-month high of $19.09.
