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June 24, 2023
Yesterday at a glance: the leading CBD products developer plunged into the red after losing 3.66%, declining to $3.95.
While price action maintains a negative bias, United States Services PMI released yesterday at 13:45 UTC with a figure of 54.1, while the previous figure was 54.9. Fresh CFTC Crude Oil speculative net positions data from United States came out at 166,500. United States CFTC Gold speculative net positions came out at 163,000.
Technical analysis trend indicators suggest that Trulieve Cannabis Corp. made an initial break below its 10 day Simple Moving Average at $4.03, a possible indication of a forthcoming negative trend. Analysis based on the asset volatility indicates that Bollinger Bands® shows an indication of recovery: the lower band is at $3.83, a low enough level to, generally, suggest that Trulieve Cannabis is trading below its fair value. Technical analysis shows that Trulieve Cannabis could begin to recover as it approaches significant support, now 5 cents away from $3.9. Dipping below could be an indication that further losses are ahead.
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; Astrazeneca PLC went down to $72.12, losing 2.47% after it closed at $73.95 yesterday. Pfizer lost 1.11% yesterday and closed at $38.3. AbbVie went down to $135.92, losing 1.08% after it closed at $137.41 yesterday.
Pointing downwards for around a month. Having soared to a high of $14.96 approximately 6 months ago, the leading CBD products developer is now trading 72.59% lower.
