Over the last 8 days, OrganiGram Holdings has fallen 22.06%. More of the same from yesterday's session: slightly down but mostly flat: OrganiGram Holdings ranged between 92.75 cents and 98 cents before closing at 92.75 cents.
United States Crude Oil Inventories data will be released today at 15:30 UTC, with an expected improvement to -3.60 million. OrganiGram Holdings reaction to indicator information will follow.
Meanwhile, United States Consumer Price Index released yesterday at 13:30 UTC with a figure of 0.1%, while the previous figure was 0.4%. United States Core Consumer Prices came out at 0.2%, while a consensus of analysts was expecting 0.3%. United States Consumer Price Index came out at 7.1%, while a consensus of analysts was expecting 7.3%.
Despite being in the red so far in the current trading session, OrganiGram Holdings Inc. peaked above its 50 day Simple Moving Average around 97.1056 cents — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at 87.8098 cents, a low enough level to, generally, suggest that OrganiGram Holdings is trading below its fair value. OrganiGram Holdings could begin to recover as it approaches significant support, now 2 cents away from 91 cents. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems OrganiGram Holdings is set to appreciate despite today's setback.
OrganiGram Holdings was not the only decliner in the health care sector; Eli Lilly and Company dips 2.34% yesterday to close at $367.25. CVS Health went down 2.51%, closed at $103.79.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Retail Sales projected to decline to -0.1% while previous data was 1.3%; data will be released tomorrow at 13:30 UTC. United States Core Retail Sales projected to come out at 0.2% — worse than previous data of 1.3%; data will be released tomorrow at 13:30 UTC.
Furthermore, United States Philadelphia Fed Manufacturing Index (Dec) is scheduled for tomorrow at 13:30 UTC.
Trading mostly sideways for a month. The medical cannabis provider reached a significant high of $two around 11 months ago but has lost 53.15% since then.