Cresco Labs continues a 4 day surge, reaping a total of 8.82%. Yesterday's session pointed in the same direction — Cresco Labs recovered from the previous trading session's losses and went up to $3.33 yesterday after it traded lower at $3.1.
Meanwhile, United States CFTC Crude Oil speculative net positions released yesterday at 19:30 UTC with a figure of 252,500, while the previous figure was 278,300. United States CFTC Gold speculative net positions released yesterday at 19:30 UTC with a figure of 116,100, while the previous figure was 126,300. Fresh CFTC Nasdaq 100 speculative net positions data from United States came out at 3,000.
Cresco Labs Inc. could be slowing down soon; it is getting close to the resistance line and is now at $3.44, only 11 cents away. Crossing the resistance line could, however, suggest that further gains are ahead. Despite posting gains on yesterday, Cresco Labs slid below its 50 day Simple Moving Average at $3.15 during the last session — an early indicator that a negative trend could be emerging. On the other hand, note that Fibonacci-focused traders would be interested to note that Cresco Labs is oscillating around the key Fibonacci resistance level of $3.35.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest Cresco Labs is set for a reversal in the coming days.
This rally in Cresco Labs's share price coincided with other health care stocks as Novo Nordisk traded at $121.23 after closing yesterday's trading day at $118.79 (up 2.05%).
While Cresco Labs was bullish yesterday, the following health care stocks underperformed: Medtronic falls 3.78% yesterday to close at $79.12.
Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Pending Home Sales is projected to outperform its last figure with -5%. It previously stood at -10.2%; data will be released tomorrow at 15:00 UTC. United States Crude Oil Inventories is projected to outperform its last figure with -2.49 million, having previously been at -3.69 million. The figure will be published tomorrow at 15:30 UTC.
Also worthy of note, United States ADP Nonfarm Employment Change (Nov) is expected tomorrow at 13:15 UTC.
Having set a significant high of $8.25 2 months ago, the medical marijuana company is trading 36.07% lower.