Village Farms is showing signs of life, up to 71.3 cents (0.41%)

During a 3 day fall, dropping a total of 4.93%, (3.99 cents), Friday may indicate a change of direction; pronounced bullish sentiment in the market helped the consumer packaged goods provider to make a notable 0.41% gain Friday, rising 0.29 cents and ultimately closing at 71.3 cents.

Village Farms International, Inc. made an initial breakout above its 10 day Simple Moving Average at 71.234 cents, a potential indicator of a newly emerging bullish phase. Village Farms's lower Bollinger Band® is at 67.2092 cents, indicating that the market is oversold and fertile for new buyers. Despite this, Village Farms is 1 cents away from testing key resistance at 72.1567 cents. Peaking above this level could inspire market bulls and open the path to further gains.

Following today's unexpected gains, extensive multifactorial technical analysis forecasts Village Farms to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the the consumer packaged goods provider is expected to pick up significant bullish sentiment in the coming days.

This rally in Village Farms's share price coincided with other consumer staples stocks as Costco traded at $507.26 after closing Friday's trading day at $486.55 (up 4.26%). Anheuser-Busch added 0.49% to its value, and traded at $57.15.

Furthermore, the market is looking at tomorrow at 14:00 UTC data for United States Consumer Confidence will be released, with an expected decline to 99 from the preceding figure of 101.3.

Pointing downwards for around 3 months. The controlled environment agriculture pioneer has fallen back around 78.8% over the past 10 months, from a notable high of $3.35.