Pre-open trade suggests a higher market open today with yesterday's bullish sentiment adding to the risk-on mood. An influx of buyers helped Green Thumb Industries to end the session higher around $7.3, while establishing a $seven to $7.37 session range yesterday.
United States Retail Sales is next today at 12:30 UTC.
On the flip side, United States Producer Price Index fell short of the 0.1% projections, with new data of -0.5%. Highly important Initial Jobless Claims data from United States beat analyst expectations of 232,000 with a reading of 239,000.
At the same time, United States Fed's Balance Sheet released yesterday at 20:30 UTC with a figure of 8.62 trillion, while the previous figure was 8.63 trillion.
Green Thumb Industries Inc. made an initial breakout above its 10 day Simple Moving Average at $7.34, a potential indicator of a newly emerging bullish phase. Despite this, Green Thumb Industries could be slowing down soon as it approaches resistance at $7.45. Of course, crossing it might suggest further gains are ahead.
Overall, looking at the technical analysis landscape, it seems Green Thumb Industries might continue pointing upwards in the short term.
This rally in Green Thumb Industries's share price coincided with other health care stocks as Novo Nordisk gained 2.52%, as it traded at $167.64. Novartis added 1.81% to its value, and traded at $98.22. Thermo Fisher Scientific was up 2.03%.
Furthermore, the market is looking at United States Core Retail Sales expected to decline to -0.3% while its preceding data was -0.1%, data will be available today at 12:30 UTC.
Furthermore, the market is looking at United States Retail Sales is expected today at 12:30 UTC.
On a negative trend for around a month. Green Thumb Industries is now trading 58.05% below the significant high of $16.76 it set around 1 year, 1 day ago.
