Investors are currently sidelined due to the Thanksgiving holiday but will return to their desks tomorrow. Looking back over the previous session yesterday: after closing at $12.9 on Tuesday, Green Thumb Industries rallied as high as $13.43 but ended the day at $13.29.
Green Thumb Industries's uptick comes amid good United States macroeconomic data released during the day — United States Core Durable Goods Orders beat the 0.1% projections, with 0.5%.
Green Thumb Industries's uptick comes amid disappointing United States macroeconomic data released during the session – United States Crude Oil Inventories fell short of the -1 million projections, with new data of -3.69 million.
Meanwhile, United States New Home Sales (Oct) came out at 632,000, while a consensus of analysts was expecting 570,000.
Green Thumb Industries Inc. made an initial breakout above its 200 day Simple Moving Average at $13, a potential indicator of a newly emerging bullish phase. Having stamped out a session range of $12.52 to $13.43, Fibonacci-inclined Green Thumb Industries traders were highly concentrated around active Fibonacci resistance at $13.25. Despite this, Green Thumb Industries could be slowing down soon; it is getting close to the resistance line and is now at $13.64, only 35 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
Overall, looking at the technical analysis landscape, it seems Green Thumb Industries might continue pointing upwards in the short term.
A look at other health care stocks also showed bullish price action as Novo Nordisk was up 2.12%. Medtronic gained 1.4%, as it traded at $79. Abbott Laboratories traded at $106 after closing yesterday's trading day at $104.87 (up 1.1%).
The stock has been trending positively for about a month. Green Thumb Industries is up 61.86% from the significant low of $7.97 it hit 4 months ago.