Risk-on sentiment allowed Cresco Labs to post 2.31% gain yesterday

A quick look at yesterday: pronounced bullish sentiment in the market helped the medical marijuana company to make a notable 2.31% gain yesterday, rising 3.35 cents and ultimately closing at $1.48.

United States Philadelphia Fed Manufacturing Index (Apr) is next today at 12:30 UTC.

On the flip side, United States Crude Oil Inventories fell short of the -1 million projections, with new data of -4.58 million.

Meanwhile, United States 20-Year Bond Auction released yesterday at 17:00 UTC with a figure of 3.92, while the previous figure was 3.909. United States Cushing Crude Oil Inventories came out at -1 million, while a consensus of analysts was expecting 622,000.

Cresco Labs Inc. made an initial breakout above its 10 day Simple Moving Average at $1.48, a potential indicator of a newly emerging bullish phase. Cresco Labs's lower Bollinger Band® is at $1.42, indicating that the market is oversold and fertile for new buyers. Despite this, Cresco Labs could be slowing down soon as it approaches resistance at $1.5. Of course, crossing it might suggest further gains are ahead.

Overall, looking at the technical analysis landscape, it seems Cresco Labs might continue pointing upwards in the short term.

A look at other health care stocks also showed bullish price action as Abbott Laboratories was up 7.82%. Intuitive Surgical traded at $298.57 after closing yesterday's trading day at $269.28 (up 10.88%). Medtronic traded at $84.87 after closing yesterday's trading day at $81.65 (up 3.94%).

Furthermore, the market is looking at United States Initial Jobless Claims projected to decline to 240,000 while previous data was 239,000; data will be released today at 12:30 UTC.

Also worthy of note, United States Philadelphia Fed Manufacturing Index (Apr) is scheduled for today at 12:30 UTC. United States Existing Home Sales (Mar) is expected today at 14:00 UTC.

On a negative trend for around a month. Having soared to a high of $5.54 approximately 1 year, 1 day ago, the consumer lifestyle brand developer is now trading 73.83% lower.