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June 11, 2023
A quick look at Friday: an influx of sellers pushed the medical and recreational cannabis provider to end the session lower around $four, while establishing a $3.96 to $4.13 session range Friday.
Technical analysis of Trulieve Cannabis's past price action reveals multiple support and resistance levels: Trulieve Cannabis Corp. could begin to recover as it approaches significant support, now 7 cents away from $3.93. Dipping below could be an indication that further losses are ahead. Trend-focused traders would be interested to note that Trulieve Cannabis made an initial break below its 5 day Simple Moving Average at $4, a possible indication of a forthcoming negative trend. According to asset volatility analysis, Bollinger Bands® shows an indication of recovery: the lower band is at $3.85, a low enough level to, generally, suggest that Trulieve Cannabis is trading below its fair value.
Overall, while Trulieve Cannabis has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Trending downwards for around a month. Over the past 6 months, the leading CBD products developer has retreated 72.57% from a noteworthy peak of $14.96.
