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June 28, 2023
A quiet day for Trulieve Cannabis as it remained range-bound within a $3.95 – $4 range before closing at $3.96.
- United States Fed Chair Powell speech is next.
- While mostly sideways today, Trulieve Cannabis is on a 13 day bearish trend during which it lost 14.3 cents.
Earlier data releases related to Trulieve Cannabis – United States New Home Sales (May) released yesterday at 14:00 UTC with a figure of 763,000, while the previous figure was 680,000. United States Consumer Confidence improved upon its previous reading of 102.5 with a new data release of 109.7.
Here is the technical analysis of Trulieve Cannabis before macro data is released:
Trulieve Cannabis Corp.'s upper Bollinger Band® is at $4.18, suggesting that a downward move may follow. Despite this, Trulieve Cannabis is approaching key support, around 3 cents away from $3.93. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Despite the market lacking direction, technical chart analysis strongly suggests Trulieve Cannabis is positioned for a downward move in the near term.
Coming up for Trulieve Cannabis — United States Crude Oil Inventories is projected to outperform its last figure with -1.76 million. It previously stood at -3.83 million; data will be released today at 14:30 UTC. Tomorrow at 12:30 UTC data for United States GDP will be released, with an expected decline to 1.4 from the preceding figure of 2.6.
As the markets get ready for more data to be released — Eli Lilly and Company added 2.59% to its value, and traded at $464.5. Thermo Fisher Scientific drops 2.38% yesterday to close at $522.03. Pfizer closed at $36.42 (down 1.27%).
Trending downwards for around a month. The leading CBD products developer is now trading 73.53% below the significant high of $14.96 it set around 6 months ago.
