As traders prepare for a higher market open today, yesterday's bearish sentiment is in focus: an influx of sellers pushed the leading medical and recreational marijuana dispensary to session lows around $3.59 while establishing a $3.59 to $3.82 session range yesterday.
United States Consumer Price Index is next today at 13:30 UTC.
Curaleaf Holdings, Inc. could begin to recover as it approaches significant support, now 25 cents away from $3.49. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, Curaleaf peaked above its 5 day Simple Moving Average around $3.8 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $3.58, a low enough level to, generally, suggest that Curaleaf is trading below its fair value.
Technical analysis indicates that Curaleaf (currently on a downtrend) might reverse course and start pointing upward in the short term.
On the other hand, positive performances could be seen by looking at other health care stocks as Novo Nordisk was up 2.47%. Eli Lilly and Company was up 1.53%. Novartis traded at $87.49 after closing yesterday's trading day at $86.48 (up 1.17%).
Some optimism can drawn from the fact that United States Retail Sales is projected to outperform its last figure with 1.8%. It previously stood at -1.1%; data will be released tomorrow at 13:30 UTC. United States Core Retail Sales is projected to outperform its last figure with 0.8%. It previously stood at -1.1%; data will be released tomorrow at 13:30 UTC.
Furthermore, United States Consumer Price Index is expected today at 13:30 UTC.
Pointing downwards for around 2 months. The leading medical and recreational marijuana dispensary has shed 43.14% over the past three months.