Trulieve Cannabis is down to $7.29, after ending yesterday at $8.84. Overall, a 17.53% loss or $1.55 today.
While price action maintains a negative bias, United States Building Permits (Nov) released today at 13:30 UTC with a figure of 1.34 million, while the previous figure was 1.51 million. United States Housing Starts (Nov) came out at 1.43 million, while a consensus of analysts was expecting 1.4 million. Fresh Building Permits data from United States came out at -11.2%.
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.
Overall, the technical analysis landscape suggests that on the balance of probability, Trulieve Cannabis is expected to maintain its bearish bias.
Positive performances can be seen by looking at other health care stocks as Novo Nordisk is trading at $131.87 after ending yesterday's session at $130.61 (up 0.96%). Amgen is up 0.67% to $267.48. Medtronic added 0.41% to its value, now trading at $76.75.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Crude Oil Inventories projected to come out at -167,000 — worse than previous data of 10.23 million; data will be released tomorrow at 15:30 UTC.
Some optimism can drawn from the fact that United States Consumer Confidence is projected to outperform its last figure with 101. It previously stood at 100.2; data will be released tomorrow at 15:00 UTC.
Furthermore, United States Existing Home Sales (Nov) will be released tomorrow at 15:00 UTC.
After hitting an important low of $7.29 approximately a day ago, the medical and recreational cannabis provider has bounced back 21.26% since.