As traders prepare for a lower market open today, yesterday's bullish sentiment has been left in the rear-view mirror: Curaleaf closed Tuesday at $5.52. yesterday, it gained 5.62% and remained around $5.83.
United States Core Consumer Prices is next today at 13:30 UTC.
Curaleaf's uptick comes amid good United States macroeconomic data released during the day — United States Crude Oil Inventories beat the 1.36 million projections, with 3.92 million.
Meanwhile, United States 10-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.14, while the previous figure was 3.93. United States Cushing Crude Oil Inventories released yesterday at 15:30 UTC with a figure of -923,000, while the previous figure was 1.27 million.
Curaleaf Holdings, Inc. made an initial breakout above its 50 day Simple Moving Average at $5.58, a potential indicator of a newly emerging bullish phase. Curaleaf has crossed the upper Bollinger Band® at $5.79, a potential sign that further gains are to follow. In contrast, although Curaleaf is appreciating today after rising as high as $5.85, price action is now slowing and consolidating around 1 cents below the $5.84 resistance level.
Overall, looking at the technical analysis landscape, it seems Curaleaf might continue pointing upwards in the short term.
A look at other health care stocks also showed bullish price action as Anthem traded at $482.58 after closing yesterday's trading day at $469.87 (up 2.71%).
While Curaleaf was bullish yesterday, the following health care stocks underperformed: UnitedHealth closed at $540.66 (down 2.24%). CVS Health went down to $99.56, losing 2.06% after it closed at $101.65 yesterday.
Furthermore, the market is looking at United States Consumer Price Index figure is projected at 0.6%. It previously stood at 0.4%; data will be released today at 13:30 UTC. United States Core Consumer Prices is expected today at 13:30 UTC. United States Consumer Price Index figure is projected at 8%. It previously stood at 8.2%; data will be released today at 13:30 UTC.
A month ago, Curaleaf fell to a low of $4.65 but has since recovered 18.71%.