Trulieve Cannabis rises 2.24% after trading as low as $6.15

After ending yesterday at $6.26, Trulieve Cannabis is currently trading at $6.4.

Trulieve Cannabis's uptick comes amid good United States macroeconomic data released during the day — data for United States Initial Jobless Claims published today at 13:30 UTC came out at 190,000, beating projections of 195,000 and showing improvement over the preceding figure of 192,000. Data for United States Crude Oil Inventories released yesterday at 15:30 UTC is better than expected with 1.17 million, but worse than previous figure of 7.65 million.

Meanwhile, United States ISM Manufacturing PMI (Feb) released yesterday at 15:00 UTC with a figure of 47.7, while the previous figure was 47.4.

Trulieve Cannabis Corp. could be slowing down soon as it approaches resistance at $6.44. Of course, crossing it might suggest further gains are ahead. Although up today, early price action saw Trulieve Cannabis dropping below its 5 day Simple Moving Average at $6.27 — an early indicator that a new downward trend could be emerging.

Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates Trulieve Cannabis is set for a reversal in the coming days.

This rally in Trulieve Cannabis's share price coincides with other health care stocks as Abbott Laboratories is up 1.44%. Novartis is up 1.1%. Thermo Fisher Scientific gained 1.2%, currently at $545.

Also worthy of note, United States ISM Non-Manufacturing PMI (Feb) is scheduled for tomorrow at 15:00 UTC.

The medical and recreational cannabis provider is now trading 54.64% below its 3-month high of $21.2.