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April 24, 2023
Today at a glance: Green Thumb Industries hovered around the $6.86 level after closing Friday at $seven and shedding 1.96%, as it reached reached today's session close.
The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions. In contrast, Green Thumb Industries could begin to recover as it approaches significant support, now 23 cents away from $6.64. Dipping below could be an indication that further losses are ahead. Bollinger Bands® shows an indication of recovery: the lower band is at $6.56, a low enough level to, generally, suggest that Green Thumb Industries is trading below its fair value.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Green Thumb Industries.
Green Thumb Industries was not the only decliner in the health care sector; Abbott Laboratories closed at $110.4 (down 1.13%). Novo Nordisk draws back 1.26% today to close at $172.65.
On the other hand, positive performances could be seen by looking at other health care stocks as Medtronic was up 4.62%.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Consumer Confidence expected to decline to 104 while its preceding data was 104.2, data will be available tomorrow at 14:00 UTC.
Furthermore, United States Building Permits scheduled to come out tomorrow at 13:30 UTC. United States New Home Sales (Mar) is expected tomorrow at 14:00 UTC.
On a negative trend for around 2 months.
