A quick look at yesterday: pronounced bearish sentiment in the market pushed Green Thumb Industries into a notable 1% slide yesterday, falling 8 cents and ultimately closing at $7.81.
Initial Jobless Claims data from United States will be released today at 13:30 UTC with analysts expecting a decline to 205,000. Potentially significant price fluctuations in Green Thumb Industries are expected to follow.
Highly important Crude Oil Inventories data from United States beat analyst expectations of 971,000 with a reading of 533,000.
While price action maintains a negative bias, United States 5-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973. United States Cushing Crude Oil Inventories came out at 4.27 million.
Technical analysis of Green Thumb Industries's past price action reveals multiple support and resistance levels: Green Thumb Industries Inc. could begin to recover as it approaches significant support, now 1 cents away from $7.8. Dipping below could be an indication that further losses are ahead. Trend analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, Bollinger Bands® shows an indication of recovery: the lower band is at $7.69, a low enough level to, generally, suggest that Green Thumb Industries is trading below its fair value.
Overall, the technical outlook suggests Green Thumb Industries is likely to remain muted for the immediate future, with no clear-cut direction.
Green Thumb Industries was not the only decliner in the health care sector; Abbott Laboratories went down to $111, losing 1.36% after it closed at $112.53 yesterday.
On the other hand, positive performances could be seen by looking at other health care stocks as Bristol-Myers Squibb Company traded at $73.17 after closing yesterday's trading day at $72.34 (up 1.15%). Pfizer gained 0.81%, as it traded at $45.07.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Core Durable Goods Orders projected to decline to -0.2% while previous data was 0.1%; data will be released today at 13:30 UTC.
In addition, United States Pending Home Sales is projected to outperform its last figure with -0.9%. It previously stood at -4%; data will be released tomorrow at 15:00 UTC.
Furthermore, United States Core PCE Price Index (MoM) (Dec) is expected tomorrow at 13:30 UTC.
On a negative trend for around a month. Having soared to a high of $22 approximately 11 months ago, Green Thumb Industries is now trading 64.12% lower.