Maintaining its 9 days rise (+24 cents), Village Farms stayed on track yesterday: having ended a bullish session yesterday at $2.17, momentum helped Village Farms finish the day 1 cents or 0.46% higher, although mixed sentiments ensured Village Farms etched out a distinct $2.11 to $2.25 session range.
United States Crude Oil Inventories data will be released today at 14:30 UTC, with an expected decline to 367,000.
Meanwhile, United States ADP Nonfarm Employment Change (Oct) released today at 12:15 UTC with a figure of 239,000, while the previous figure was 192,000. United States JOLTs Job Openings (Sep) came out at 10.72 million, while a consensus of analysts was expecting 10 million. United States ISM Manufacturing PMI (Oct) came out at 50.2, while a consensus of analysts was expecting 50.
After reaching the known resistance zone beginning at $2.24, Village Farms International, Inc. price action retreated approximately 7 cents. Village Farms's upper Bollinger Band® is at $2.27, this is a slight indication of a slowdown.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest Village Farms is set for a reversal in the coming days.
This rally in Village Farms's share price coincided with other consumer staples stocks as Anheuser-Busch traded at $51.07 after closing yesterday's trading day at $50.1 (up 1.94%).
While Village Farms was bullish yesterday, the following consumer staples stocks underperformed: PepsiCo went down 0.45%, closed at $181.58.
Also worthy of note, today at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 367,000 from the preceding figure of 2.59 million.
Furthermore, the market is looking at United States Interest Rate figure is projected at four. It previously stood at 3.25; data will be released today at 18:00 UTC. United States ISM Non-Manufacturing PMI (Oct) will be released tomorrow at 14:00 UTC.
11 months ago Village Farms reached a significant high of $9.26 but has consequently lost 76.67% since then.