Trulieve Cannabis closed at $6.03 (down 1.22%) and added one more to its 5th straight day of losses

A quick look at yesterday: pronounced bearish market sentiment ensured that the leading CBD products developer made a notable 1.22% loss yesterday, declining 7.42 cents and ultimately closing at $6.03.

Unemployment Rate in United States fell short of market expectations (3.4) with a reading of 3.6, continuing the decline from the previous figure of 3.4.

This down-slide takes place while positive United States macroeconomics indicators data was published earlier – United States Non Farm Payrolls beat the 205,000 projections, with 311,000.

While price action maintains a negative bias, United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 107,100, while the previous figure was 128,800.

A study of Trulieve Cannabis's chart reveals various key levels to watch: Trulieve Cannabis Corp. could begin to recover as it approaches significant support, now 6 cents away from $5.96. Dipping below could be an indication that further losses are ahead. Trend analysis indicates 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. Analysis based on the asset volatility indicates that Bollinger Bands® shows an indication of recovery: the lower band is at $5.84, a low enough level to, generally, suggest that Trulieve Cannabis is trading below its fair value.

Overall, the technical outlook suggests Trulieve Cannabis is likely to remain muted for the immediate future, with no clear-cut direction.

Trulieve Cannabis was not the only decliner in the health care sector; Medtronic lost 1.64% yesterday and closed at $76.72. Thermo Fisher Scientific lost 1.7% yesterday and closed at $543.83.

On the other hand, positive performances could be seen by looking at other health care stocks as AbbVie traded at $149.71 after closing yesterday's trading day at $147.35 (up 1.6%).

The medical and recreational cannabis provider is now trading 1.23% above the significant low ($6.03) it slumped to a day ago.