A quick look at yesterday: Village Farms moves up 1.28% to close at 91.25 cents yesterday.
United States Crude Oil Inventories data will be released today at 14:30 UTC, with an expected improvement to 555,000 (previous figure was -1.69 million).
The MACD index is indicating that momentum is shifting from bearish to bullish following a positive crossover. When the MACD rises above the signal line, it is typically considered to be a bullish development favoring long positions. Village Farms's lower Bollinger Band® is at 88.2098 cents, indicating that the market is oversold and fertile for new buyers.
Village Farms continues to move higher with technical analysis indicating the trend will continue in the short term.
A look at other consumer staples stocks also showed bullish price action as Anheuser-Busch traded at $60.81 after closing yesterday's trading day at $59.48 (up 2.24%). Costco gained 2.1%, as it traded at $481.92. Procter & Gamble added 1.24% to its value, and traded at $139.85.
Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Initial Jobless Claims is projected to outperform its last figure with 205,000. It previously stood at 211,000; data will be released tomorrow at 12:30 UTC.
Furthermore, the market is looking at United States Philadelphia Fed Manufacturing Index (Mar) is scheduled for tomorrow at 12:30 UTC. United States Building Permits (Feb) scheduled to come out tomorrow at 12:30 UTC.
Trending downwards for around a month. Approximately 11 months ago, the consumer packaged goods provider reached a significant high of $6.1 but has struggled to hold onto its gains and declined 85.23% since then.