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April 25, 2023
OrganiGram Holdings is down to 50.32 cents, after ending yesterday at 51 cents. Overall, a 1.33% loss or 0.68 cents today.
- Consumer Confidence data from United States will be released today at 14:00 UTC with analysts expecting a decline to 104. Potentially significant price fluctuations in OrganiGram Holdings are expected to follow.
- Today's losses are adding to an 11 day bearish run, during which OrganiGram Holdings lost 17.85 cents of its value.
Earlier data releases related to OrganiGram Holdings – United States Building Permits released today at 12:10 UTC with a figure of 1.43 million, while the previous figure was 1.55 million. United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Feb) came out at 0.4, while a consensus of analysts was expecting 0.1.
Here is the technical analysis of OrganiGram Holdings before macro data is released:
Trend-focused traders would be interested to note 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. According to momentum evaluation, the Relative Strength Index has gone below 30, going into oversold conditions and allowing more gains. Asset volatility analysis shows that OrganiGram Holdings's lower Bollinger Band® is at 47.6446 cents, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
With market volatility ebbing, the current technical outlook indicates OrganiGram Holdings will remain range-bound for the immediate future.
Coming up for OrganiGram Holdings — United States Core Durable Goods Orders projected to decline to -0.2% while previous data was -0.1%; data will be released tomorrow at 12:30 UTC. United States Crude Oil Inventories is projected to outperform its last figure with -1.67 million. It previously stood at -4.58 million; data will be released tomorrow at 14:30 UTC.
As the markets get ready for more data to be released — Novartis is trading at $104.75 after ending yesterday's session at $100.59 (up 4.14%). After closing the previous session (yesterday) at $574.3, Thermo Fisher Scientific lost $16.45 and is trading around $557.85. Eli Lilly and Company is up 1.53%.
Trending downwards for around 3 months. The medicinal cannabis specialist is now trading 47.11% below its 3-month high of $1.49.
