Village Farms adds 5.93% to close at 71.99 cents; extends its five-day winning streak

Today at a glance: an influx of buyers helped the controlled environment agriculture pioneer to end the session higher around 71.99 cents, while establishing a 67.01 cents to 74 cents session range today.

United States's Crude Oil Inventories new data released of -451,000 below its previous figure.

Nevertheless, highly important Crude Oil Inventories data from United States beat analyst expectations of 1 million with a reading of -451,000.

Meanwhile, United States Cushing Crude Oil Inventories released today at 14:30 UTC with a figure of 1.72 million, while the previous figure was 1.63 million. United States Trade Balance (Apr) came out at -74.6 billion, while a consensus of analysts was expecting -75.2 billion.

Village Farms International, Inc. made an initial breakout above its 21 day Simple Moving Average at 68.9248 cents, a potential indicator of a newly emerging bullish phase. Price action overcame a known Fibonacci resistance level at 70.9337 cents by around 1.0563 cents with prices hammering out a 67.01 cents – 74 cents session range. Despite this, although Village Farms is appreciating today after rising as high as 74 cents, price action is now slowing and consolidating around 4 cents below the 75.6433 cents resistance level.

Overall, looking at the technical analysis landscape, it seems Village Farms might continue pointing upwards in the short term.

This rally in Village Farms's share price coincided with other consumer staples stocks as Philip Morris International traded at $92.25 after closing today's trading day at $91.62 (up 0.69%).

While Village Farms was bullish today, the following consumer staples stocks underperformed: PepsiCo went down to $180.11, losing 0.8% after it closed at $181.56 today. Costco went down to $511.23, losing 0.97% after it closed at $516.26 today.

Also worthy of note, projections for United States Initial Jobless Claims are set for a continuation of decline with 235,000 while previous data was 232,000; data will be released tomorrow at 12:30 UTC.

Village Farms hit a significant low of 57.77 cents around 6 days ago, but has since recovered 17.64%.