Friday at a glance: after closing at $1.81 on Thursday, Cresco Labs rallied as high as $1.85 but ended the day at $1.82.
Trend and momentum analysis indicates that Cresco Labs Inc. made an initial breakout above its 21 day Simple Moving Average at $1.8, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that Cresco Labs's upper Bollinger Band® is at $1.88, this is a slight indication of a slowdown. Technical analysis shows that although Cresco Labs is appreciating today after rising as high as $1.85, price action is now slowing and consolidating around 3 cents below the $1.85 resistance level.
Notwithstanding Cresco Labs's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
This rally in Cresco Labs's share price coincided with other health care stocks as Stryker traded at $271.53 after closing Friday's trading day at $262.09 (up 3.6%). Abbott Laboratories added 1.77% to its value, and traded at $104.45. Thermo Fisher Scientific was up 1.95%.
The consumer lifestyle brand developer has shed 52.86% over the past three months.