Yesterday at a glance: Green Thumb Industries went up to $13, gaining 2.36%.
United States Core PCE Price Index (MoM) (Oct) is next today at 13:30 UTC.
Green Thumb Industries's uptick comes amid good United States macroeconomic data released during the day — United States Pending Home Sales improved upon its previous reading of -8.7% with a new data release of -4.6%.
Green Thumb Industries's uptick comes amid disappointing United States macroeconomic data released during the session – Crude Oil Inventories in United States fell short of market expectations (-2.76 million) with a reading of -12.58 million, continuing the decline from the previous figure of -3.69 million.
At the same time, United States JOLTs Job Openings (Oct) released yesterday at 15:00 UTC with a figure of 10.33 million, while the previous figure was 10.69 million.
Green Thumb Industries Inc. made an initial breakout above its 200 day Simple Moving Average at $12.82, a potential indicator of a newly emerging bullish phase. Green Thumb Industries broke through the $12.95 resistance and climbed above it 5 cents; next resistance level is at $13.19.
Examining the technical analysis landscape, Green Thumb Industries might continue its downtrend in the short term.
This rally in Green Thumb Industries's share price coincided with other health care stocks as Thermo Fisher Scientific gained 3.79%, as it traded at $560.22. Medtronic added 3.35% to its value, and traded at $79.04. UnitedHealth was up 3.74%.
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 235,000. It previously stood at 240,000; data will be released today at 13:30 UTC.
Furthermore, the market is looking at as things stand, upcoming United States Non Farm Payrolls data is projected to fall short of market expectations with newly published data of 200,000, following on from the preceding figure of 261,000. New data is set to be published tomorrow at 13:30 UTC.
Also worthy of note, United States Core PCE Price Index (MoM) (Oct) is expected today at 13:30 UTC.
The stock has been trending positively for about a month. After hitting an important low of $7.97 approximately 5 months ago, Green Thumb Industries has bounced back 59.35% since.