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March 13, 2023
Green Thumb Industries is down to $eight, after ending Friday at $8.1. Overall, a 1.23% loss or 10 cents today.
While price action maintains a negative bias, United States Participation Rate (Feb) released today at 13:30 UTC with a figure of 118.3, while the previous figure was 62.4.
As the trading day commences, technical analysis suggests Green Thumb Industries Inc. could begin to recover as it approaches significant support, now 15 cents away from $7.85. Dipping below could be an indication that further losses are ahead. Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Fibonacci-minded traders witnessed a key Fib level of $7.94 holding firm – an indicator of highly concentrated demand around this level. According to asset volatility analysis, Bollinger Bands® shows an indication of recovery: the lower band is at $7.93, a low enough level to, generally, suggest that Green Thumb Industries is trading below its fair value.
All in all, the technical analysis suggests Green Thumb Industries has no clear-cut direction.
Positive performances can be seen by looking at other health care stocks as Eli Lilly and Company is up 4%. Amgen is trading at $235.9 after ending Friday's session at $227.87 (up 3.52%). Johnson & Johnson is trading at $154.81 after ending Friday's session at $151.61 (up 2.11%).
Furthermore, United States Consumer Price Index figure is projected at 0.4%. It previously stood at 0.5%; data will be released tomorrow at 12:30 UTC. United States Consumer Price Index is expected tomorrow at 12:30 UTC. United States Core Consumer Prices is expected tomorrow at 12:30 UTC.
The stock has been trending positively for about a month. Green Thumb Industries is now trading 57.57% below the significant high of $19.09 it set around 11 months ago.
