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March 16, 2023
A quick look at yesterday: during yesterday's session, Curaleaf toiled and struggled for upward momentum before closing at $3.42. By the close, the the leading medical and recreational marijuana dispensary suffered a 15 cents or 4.2% loss.
United States Building Permits (Feb) is next today at 12:30 UTC.
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. A crossing of the lower Bollinger Band® at $3.49 suggests further losses may follow for Curaleaf.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Curaleaf to extend its recent losses.
Curaleaf was not the only decliner in the health care sector; Thermo Fisher Scientific closed at $542.7 (down 2.39%).
On the other hand, positive performances could be seen by looking at other health care stocks as Amgen added 1.87% to its value, and traded at $234.9. Bristol-Myers Squibb Company was up 1.52%.
Moreover, United States Initial Jobless Claims is projected to outperform its last figure with 205,000. It previously stood at 211,000; data will be released today at 12:30 UTC.
Furthermore, United States Philadelphia Fed Manufacturing Index (Mar) will be released today at 12:30 UTC. United States Building Permits (Feb) is scheduled for today at 12:30 UTC.
Trending downwards for around 2 months. Having set a significant high of $7.57 3 months ago, the leading medical and recreational marijuana dispensary is trading 52.84% lower.
