Curaleaf falls 90 cents as trading session draws to a close around the $6.67 level.
Curaleaf is currently trading at $6.67 following the release of EIA Short-Term Energy Outlook data from the United States.
Amid the market gloom, United States ISM Non-Manufacturing PMI (Nov) released yesterday at 15:00 UTC with a figure of 56.5, while the previous figure was 54.4. United States Trade Balance (Oct) came out at -78.2 billion, while a consensus of analysts was expecting -80 billion. United States Exports data released today at 13:30 UTC showed continuing decline to 256.6 billion from a previous figure of 258.5 billion.
Curaleaf Holdings, Inc. made an initial break below its 10 day Simple Moving Average at $6.81, a possible indication of a forthcoming negative trend. Price action remains constrained around the key Fibonacci level of $seven currently serving as support. If price action breaks below, the next Fib hurdle is $6.27. Curaleaf broke through the $7.15 support line and dropped 48 cents below it.
Overall, looking at the technical analysis landscape, it seems Curaleaf is likely to continue pointing down in the short term.
In the meantime, negative performances are also seen in other health care stocks as Pfizer is down to $49.63, losing 2.17%, after ending yesterday at $50.73. Medtronic is down to $77.07, losing 2.18%, after ending yesterday at $78.79.
Positive performances can be seen by looking at other health care stocks as Sanofi is up 6.7%.
Moreover, United States Crude Oil Inventories is projected to outperform its last figure with -3.88 million, having previously been at -12.58 million. The figure will be published tomorrow at 15:30 UTC.
The stock has been trending positively for about a month. Curaleaf hit a significant low of $4.65 around 2 months ago, but has since recovered 62.8%.