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April 30, 2023
A quick look at Friday: pronounced bearish sentiment in the market pushed Green Thumb Industries into a notable 2.97% slide Friday, falling 21.75 cents and ultimately closing at $7.1.
Green Thumb Industries Inc. made an initial break below its 21 day Simple Moving Average at $7.2, a possible indication of a forthcoming negative trend. Green Thumb Industries's upper Bollinger Band® is at $7.36 which indicates a further downward move may follow. On the other hand, note that Green Thumb Industries could begin to recover as it approaches significant support, now 19 cents away from $6.91. Dipping below could be an indication that further losses are ahead.
Several technical indicators are adding weight to the bearish momentum seen Friday and forecasting Green Thumb Industries to extend its recent losses.
Green Thumb Industries was not the only decliner in the health care sector; Sanofi dips 4.35% Friday to close at $56.09.
On the other hand, positive performances could be seen by looking at other health care stocks as Thermo Fisher Scientific gained 2.19%, as it traded at $554.9. AbbVie was up 1.51%.
Furthermore, United States ISM Manufacturing PMI (Apr) is expected tomorrow at 14:00 UTC.
Trending downwards for around 2 months. Green Thumb Industries hit a significant low of $6.8 around 5 days ago, but has since recovered 7.61%.
