A quick look at yesterday: an influx of sellers pushed OrganiGram Holdings to end the session lower around 96.3 cents, while establishing a 95.37 cents to 97.39 cents session range yesterday.
United States EIA Short-Term Energy Outlook is next today at 17:00 UTC.
OrganiGram Holdings Inc. made an initial break below its 50 day Simple Moving Average at 96.4478 cents, a possible indication of a forthcoming negative trend. OrganiGram Holdings is currently flirting with an active Fibonacci support level around 96.0888 cents. OrganiGram Holdings's upper Bollinger Band® is at $1.02 which indicates a further downward move may follow. Despite this, OrganiGram Holdings could begin to recover as it approaches significant support, now 1 cents away from 94.8333 cents. Dipping below could be an indication that further losses are ahead.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting OrganiGram Holdings to extend its recent losses.
On the other hand, positive performances could be seen by looking at other health care stocks as Amgen was up 2.97%. Anthem gained 2.71%, as it traded at $482.58. Novo Nordisk traded at $115.05 after closing yesterday's trading day at $112.41 (up 2.35%).
Some optimism can drawn from the fact that United States Crude Oil Inventories is projected to outperform its last figure with 1.1 million. It previously stood at -3.12 million; data will be released tomorrow at 15:30 UTC.
Furthermore, United States EIA Short-Term Energy Outlook is expected today at 17:00 UTC.
Pointing downwards for around 2 months. Having set a significant high of $2.48 15 days ago, OrganiGram Holdings is trading 12.45% lower.