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June 28, 2023
Generally flat but with a slight bullish bias, Green Thumb Industries ranged between $7.43 and $7.71 before closing higher at $7.59.
- United States Fed Chair Powell speech is next today at 13:30 UTC.
- Yesterday's gains added to Green Thumb Industries's 10 days uptrend, during which it increased a total of 20 cents.
Earlier data releases related to Green Thumb Industries – United States New Home Sales (May) came out at 763,000, while a consensus of analysts was expecting 675,000. United States Consumer Confidence beat the 104 projections, with 109.7.
Here is the technical analysis of Green Thumb Industries before macro data is released:
Although Green Thumb Industries Inc. is appreciating today after rising as high as $7.71, price action is now slowing and consolidating around 13 cents below the $7.72 resistance level. Despite posting gains on yesterday, Green Thumb Industries slid below its 21 day Simple Moving Average at $7.57 during the last session — an early indicator that a negative trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at $7.84, 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.
Coming up for Green Thumb Industries — United States Crude Oil Inventories is projected to outperform its last figure with -1.76 million. It previously stood at -3.83 million; data will be released today at 14:30 UTC. United States GDP projected to decline to 1.4 while previous data was 2.6; data will be released tomorrow at 12:30 UTC.
As the markets get ready for more data to be released — Eli Lilly and Company gained 2.59%, as it traded at $464.5. Thermo Fisher Scientific went down to $509.62, losing 2.38% after it closed at $522.03 yesterday. Pfizer closed at $36.42 (down 1.27%).
Pointing downwards for around a month. Green Thumb Industries has fallen back around 51.71% over the past 6 months, from a notable high of $15.63.
