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July 03, 2023
As traders prepare for a lower market open today, Friday's bullish sentiment has been left in the rear-view mirror: after closing at $3 on Thursday, Curaleaf rallied as high as $3.11 but ended the day at $3.09.
United States ISM Manufacturing PMI (Jun) is next today at 14:00 UTC.
Chart analysis indicates Curaleaf Holdings, Inc. is 6 cents away from testing key resistance at $3.15. Peaking above this level could inspire market bulls and open the path to further gains. Trend analysis indicates that Curaleaf made an initial breakout above its 10 day Simple Moving Average at $3.06, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Curaleaf's upper Bollinger Band® is at $3.22, this is a slight indication of a slowdown.
Overall, the technical outlook suggests Curaleaf is likely to remain muted for the immediate future, with no clear-cut direction.
This rally in Curaleaf's share price coincided with other health care stocks as Novo Nordisk traded at $161.83 after closing Friday's trading day at $157.03 (up 3.06%). Pfizer gained 1.55%, as it traded at $36.68. Novartis was up 1.56%.
Elsewhere, United States ISM Manufacturing PMI (Jun) is expected today at 14:00 UTC.
The stock has been trending positively for about a month. Approximately 6 months ago, the US-based cannabis dispensary reached a significant high of $7.57 but has struggled to hold onto its gains and declined 60.24% since then.
