Is the bullish run coming to an end? Trulieve Cannabis closed at $5.51 (-1.96%)

Though in the midst of a 5 day uptrend, gaining a total of 10.64%, (64 cents), Yesterday's session suggests run might be coming to an end — the leading CBD products developer has recovered almost all of its session losses after dipping down to $5.25 yesterday.

United States ADP Nonfarm Employment Change (Apr) is next today at 12:15 UTC.

While price action maintains a negative bias, United States JOLTs Job Openings (Mar) came out at 9.59 million, while a consensus of analysts was expecting 9.78 million. United States API Weekly Crude Oil Stock released yesterday at 20:30 UTC with a figure of -3.94 million, while the previous figure was -6 million. United States Factory Orders fell short of the 1.1% projections, with new data of 0.9%.

Trulieve Cannabis Corp. made an initial break below its 5 day Simple Moving Average at $5.26, a possible indication of a forthcoming negative trend. Trulieve Cannabis's upper Bollinger Band® is at $5.67 which indicates a further downward move may follow. Despite this, although Trulieve Cannabis is down today and was as low as $5.25, it seems to be recovering slightly and climbing away from the $5.27 support line and is now 24 cents above it.

Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Trulieve Cannabis to extend its recent losses.

Trulieve Cannabis was not the only decliner in the health care sector; Stryker falls 2% yesterday to close at $299.89.

On the other hand, positive performances could be seen by looking at other health care stocks as Merck traded at $117.89 after closing yesterday's trading day at $116.34 (up 1.33%).

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as tomorrow at 12:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 240,000 from the preceding figure of 230,000.

Some optimism can drawn from the fact that United States Crude Oil Inventories is projected to outperform its last figure with -1.1 million. It previously stood at -5 million; data will be released today at 14:30 UTC.

Furthermore, United States Interest Rate figure is projected at 5.25. It previously stood at five; data will be released today at 18:00 UTC.

The medical and recreational cannabis provider has shed 49.46% over the past six months.