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April 12, 2023
As traders prepare for a higher market open today, yesterday's bearish sentiment is in focus: Green Thumb Industries hovered around the $seven level after closing Monday at $7.15 and shedding 2.1%, as it reached reached yesterday's session close.
United States Core Consumer Prices is next today at 12:30 UTC.
Meanwhile, United States API Weekly Crude Oil Stock came out at 377,000, while a consensus of analysts was expecting -1.3 million. United States 3-Year Note Auction released yesterday at 17:00 UTC with a figure of 3.81, while the previous figure was 4.635.
Despite being in the red so far in the current trading session, Green Thumb Industries Inc. peaked above its 5 day Simple Moving Average around $7.16 — typically an early indicator of a new bullish trend beginning to emerge. Green Thumb Industries's lower Bollinger Band® is at $6.83, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Green Thumb Industries could begin to recover as it approaches significant support, now 9 cents away from $6.91. Dipping below could be an indication that further losses are ahead.
Technical analysis indicates that Green Thumb Industries's current downtrend might soon change course and start climbing up in the short term.
On the other hand, positive performances could be seen by looking at other health care stocks as UnitedHealth was up 1.12%. Medtronic added 0.95% to its value, and traded at $81. Stryker traded at $290.53 after closing yesterday's trading day at $288.24 (up 0.79%).
In addition, United States Producer Price Index is projected to outperform its last figure with 0.1%. It previously stood at -0.1%; data will be released tomorrow at 12:30 UTC. United States Crude Oil Inventories is projected to outperform its last figure with -583,000. It previously stood at -3.74 million; data will be released today at 14:30 UTC.
Furthermore, United States Consumer Price Index is expected today at 12:30 UTC.
Trending downwards for around a month. Green Thumb Industries is up 2.14% from the significant low of $seven it hit a day ago.
