A quick look at yesterday: an influx of sellers pushed the leading medical and recreational marijuana dispensary to end the session lower around $4.09, while establishing a $3.95 to $4.26 session range yesterday.
United States Fed Chair Powell speech is next today at 13:00 UTC.
Curaleaf Holdings, Inc. made an initial break below its 10 day Simple Moving Average at $4.12, a possible indication of a forthcoming negative trend. Despite this, Curaleaf could begin to recover as it approaches significant support, now 15 cents away from $3.94. Dipping below could be an indication that further losses are ahead.
In the short term, Curaleaf is expected to maintain its recent downtrend and continue spiralling lower.
Curaleaf was not the only decliner in the health care sector; Pfizer lost 4.97% yesterday and closed at $48.39. Medtronic closed at $77.54 (down 4.11%). Merck closed at $110.38 (down 3.88%).
Looking ahead, ongoing depreciation may be prolonged as tomorrow at 15:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -2.38 million from the preceding figure of 1.69 million.
Furthermore, United States Fed Chair Powell speech will be released today at 13:00 UTC. United States EIA Short-Term Energy Outlook is scheduled for today at 17:00 UTC.
13 days ago, the leading medical and recreational marijuana dispensary fell to a low of $3.9 but has since recovered 8.21%.