Friday at a glance: Trulieve Cannabis dropped 1.55% early on and traded close to the $12.7 level.
Despite being in the red so far in the current trading session, Trulieve Cannabis Corp. peaked above its 3 day Simple Moving Average around $12.78 — typically an early indicator of a new bullish trend beginning to emerge. Although Trulieve Cannabis is down today and was as low as $12.06, it seems to be recovering slightly and climbing away from the $11.74 support line and is now 96 cents above it. In contrast, Trulieve Cannabis's upper Bollinger Band® is at $13.03 which indicates a further downward move may follow.
Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems Trulieve Cannabis is set to appreciate despite today's setback.
On the other hand, positive performances could be seen by looking at other health care stocks as Novartis added 2.68% to its value, and traded at $85.7. UnitedHealth gained 2.85%, as it traded at $530. Anthem was up 2.71%.
The stock has been trending positively for about a month. Trulieve Cannabis hit a significant low of $8.5 around a month ago, but has since recovered 51.76%.