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July 02, 2023
A quick look at Friday: the medical and recreational cannabis provider has recovered almost all of its session losses after dipping down to $3.87 Friday.
Trulieve Cannabis Corp. made an initial break below its 5 day Simple Moving Average at $3.94, a possible indication of a forthcoming negative trend. Trulieve Cannabis's upper Bollinger Band® is at $4.11 which indicates a further downward move may follow. On the other hand, note that Trulieve Cannabis could begin to recover as it approaches significant support, now 5 cents away from $3.87. Dipping below could be an indication that further losses are ahead.
In the short term, Trulieve Cannabis is expected to maintain its recent downtrend and continue spiralling lower.
On the other hand, positive performances could be seen by looking at other health care stocks as Novo Nordisk gained 3.06%, as it traded at $161.83. Pfizer traded at $36.68 after closing Friday's trading day at $36.12 (up 1.55%). Novartis added 1.56% to its value, and traded at $100.91.
Furthermore, United States ISM Manufacturing PMI (Jun) is expected tomorrow at 14:00 UTC.
Pointing downwards for around a month. 6 months ago the medical and recreational cannabis provider reached a significant high of $14.96 but has consequently lost 73.73% since then.
