Is the bullish run coming to an end? Cresco Labs closed at $1.87 (-1.06%)

Though in the midst of a 5 day uptrend, gaining a total of 25.5%, (40 cents), Yesterday's session suggests run might be coming to an end — the medical marijuana company hovered around the $1.87 level after closing Wednesday at $1.89 and shedding 1.06%, as it reached reached yesterday's session close.

United States Core PCE Price Index (MoM) (Apr) is next today at 12:30 UTC.

Highly important Pending Home Sales data from United States beat analyst expectations of 0.5% with a reading of 0%.

This down-slide takes place despite the positive US macroeconomics indicators data that was published earlier — United States GDP beat the 1.1 projections, with 1.3. United States Initial Jobless Claims beat the 250,000 projections, with 229,000.

Technical analysis shows that although Cresco Labs Inc. is down today and was as low as $1.77, it seems to be recovering slightly and climbing away from the $1.78 support line and is now 9 cents above it. Technical analysis trend indicators suggest that investors are seeking long positions as Cresco Labs price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Yesterday's price action generated a Japanese candlestick pattern showing 'Bearish Harami' is a candlestick chart indicator used for detecting reversals within a prevailing bull trend. It is generally indicated by a small price decrease that's contained within a broader upward price movement and is commonly associated with a bullish trend coming to an end. Asset volatility analysis shows that Cresco Labs's upper Bollinger Band® is at $1.87 which indicates a further downward move may follow.

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; Medtronic lost 4.51% yesterday and closed at $83.54. Novartis lost 2.25% yesterday and closed at $97.78.

Looking ahead, ongoing depreciation may be prolonged as today at 12:30 UTC data for United States Core Durable Goods Orders will be released, with an expected decline to 0% from the preceding figure of 0.3%.

Furthermore, United States Core PCE Price Index (MoM) (Apr) is expected today at 12:30 UTC.

A month ago, the medical marijuana company fell to a low of $1.39 but has since recovered 35.97%.