Village Farms depreciates 2.02% with 77.8 cents as the low of the day

A quick look at yesterday: after closing the previous trading day at 81.5 cents and dropping to 77.8 cents, the consumer packaged goods provider closed yesterday at 79.85 cents. By the end of the session, Village Farms gave up a total of 2.02%.

United States Existing Home Sales (Mar) is next today at 14:00 UTC.

Highly important Crude Oil Inventories data from United States beat analyst expectations of -1 million with a reading of -4.58 million.

Meanwhile, United States 20-Year Bond Auction released yesterday at 17:00 UTC with a figure of 3.92, while the previous figure was 3.909. United States Cushing Crude Oil Inventories came out at -1 million, while a consensus of analysts was expecting 622,000.

Village Farms International, Inc. made an initial break below its 10 day Simple Moving Average at 80.463 cents, a possible indication of a forthcoming negative trend. Village Farms's upper Bollinger Band® is at 86.1373 cents which indicates a further downward move may follow. In contrast, Village Farms could begin to recover as it approaches significant support, now 2 cents away from 77.6667 cents. Dipping below could be an indication that further losses are ahead.

Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Village Farms to extend its recent losses.

On the other hand, positive performances could be seen by looking at other consumer staples stocks as Anheuser-Busch traded at $65.97 after closing yesterday's trading day at $64.36 (up 2.5%). Diageo was up 0.91%. Coca-Cola traded at $63.68 after closing yesterday's trading day at $63.56 (up 0.19%).

Furthermore, United States Existing Home Sales (Mar) is scheduled for today at 14:00 UTC.

Trending downwards for around 2 months. Village Farms has shed $3.72 points and is languishing 82.03% lower over the past year, leaving its yearly highs around $4.52 in the rear-view mirror.