Green Thumb Industries lost 0.67% during yesterday's session; goes up in pre-market trading (+13.36% to $8.4)

As traders prepare for a higher market open today, yesterday's bearish sentiment is in focus: slightly down but mostly flat: Green Thumb Industries ranged between $7.3 and $7.76 before closing at $7.41.

United States Initial Jobless Claims data will be released today at 12:30 UTC, with an expected improvement to 254,000. Green Thumb Industries reaction to indicator information will follow.

This down-slide takes place while positive United States macroeconomics indicators data was published earlier – United States Crude Oil Inventories beat the -920,000 projections, with 5 million.

While price action maintains a negative bias, United States Building Permits (Apr) came out at 1.42 million, while a consensus of analysts was expecting 1.44 million. United States 20-Year Bond Auction released yesterday at 17:00 UTC with a figure of 3.954, while the previous figure was 3.92.

Green Thumb Industries Inc. made an initial break below its 21 day Simple Moving Average at $7.43, a possible indication of a forthcoming negative trend. Price action remains constrained around the key Fibonacci level of $7.5 currently serving as support. If price action breaks below, the next Fib hurdle is $7.23. On the other hand, note that Green Thumb Industries could begin to recover as it approaches significant support, now 19 cents away from $7.22. Dipping below could be an indication that further losses are ahead.

Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Green Thumb Industries to extend its recent losses.

Green Thumb Industries was not the only decliner in the health care sector; Novartis went down 1.55%, closed at $102.81. Sanofi stumbles 1.58% yesterday to close at $54.55. Merck closed at $114.76 (down 1.14%).

Moreover, United States Initial Jobless Claims is projected to outperform its last figure with 254,000. It previously stood at 264,000; data will be released today at 12:30 UTC.

Furthermore, United States Philadelphia Fed Manufacturing Index (May) is expected today at 12:30 UTC. United States Existing Home Sales (Apr) is scheduled for today at 14:00 UTC.

Green Thumb Industries is now trading 52.29% below the significant high of $15.63 it set around 5 months ago.