A quick look at yesterday: Trulieve Cannabis ended Friday at $5.41. yesterday it went up to $5.8 only to drop back, yet still managed to close at $5.62.
United States JOLTs Job Openings (Mar) is next today at 14:00 UTC.
At the same time, United States ISM Manufacturing PMI (Apr) came out at 47.1, while a consensus of analysts was expecting 46.8. United States ISM Manufacturing Prices (Apr) released yesterday at 14:00 UTC with a figure of 53.2, while the previous figure was 49.2. United States ISM Manufacturing Employment (Apr) released yesterday at 14:00 UTC with a figure of 50.2, while the previous figure was 46.9.
Technical analysis of Trulieve Cannabis's past price action reveals multiple support and resistance levels: although Trulieve Cannabis Corp. is appreciating today after rising as high as $5.8, price action is now slowing and consolidating around 21 cents below the $5.83 resistance level. Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Trulieve Cannabis formed a session range of $5.36 to $5.8 leaving buyers and sellers highly concentrated around an active Fibonacci resistance level of $5.59. According to asset volatility analysis, Trulieve Cannabis's upper Bollinger Band® is at $5.67, this is a slight indication of a slowdown.
Overall, while Trulieve Cannabis has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
A look at other health care stocks also showed bullish price action as Eli Lilly and Company was up 2.51%. Bristol-Myers Squibb Company traded at $68.4 after closing yesterday's trading day at $66.77 (up 2.44%). AbbVie traded at $153.71 after closing yesterday's trading day at $151.12 (up 1.71%).
Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Crude Oil Inventories is projected to outperform its last figure with -1,000,000, having previously been at -5 million. The figure will be published tomorrow at 14:30 UTC.
Furthermore, the market is looking at United States Interest Rate is expected tomorrow at 18:00 UTC. United States ADP Nonfarm Employment Change (Apr) scheduled to come out tomorrow at 12:15 UTC.
The leading CBD products developer traded as high as $15.16 before shedding 51.57% lower over the past six months.