Is the bullish run coming to an end? Cresco Labs closed at $1.56 (-0.64%)

Though in the midst of a 3 day uptrend, gaining a total of 8.33%, (13 cents), Today's session suggests run might be coming to an end — grinding lower but with no clear-cut direction, the medical marijuana company closed the session at $1.56 after forming a distinct $1.51 – $1.61 range.

Highly important Pending Home Sales data from United States beat analyst expectations of 0.5% with a reading of -5.2%. Following a previous reading of 2.6, GDP in United States released yesterday at 12:30 UTC fell short of the two figure expected by analysts with an actual reading of 1.1.

Amid the market gloom, United States Core PCE Price Index (MoM) (Mar) came out at 0.3, while a consensus of analysts was expecting 0.3.

With regards to technical trend indicators, chart analysis show that investors are seeking long positions as Cresco Labs Inc. price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, Cresco Labs's upper Bollinger Band® is at $1.57 which indicates a further downward move may follow. Support/Resistance levels obtained from chart analysis indicate that Cresco Labs could begin to recover as it approaches significant support, now 5 cents away from $1.51. Dipping below could be an indication that further losses are ahead.

Notwithstanding Cresco Labs's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Cresco Labs was not the only decliner in the health care sector; Sanofi closed at $53.65 (down 4.35%).

On the other hand, positive performances could be seen by looking at other health care stocks as Thermo Fisher Scientific was up 2.19%.

After hitting an important low of $1.39 approximately 7 days ago, the consumer lifestyle brand developer has bounced back 12.95% since.