After closing the previous trading day at $14.45, Trulieve Cannabis is up to $15.65, which makes for a move of 8.3%/$1.2 today.
Trulieve Cannabis is currently trading at $15.65 following the release of ISM Non-Manufacturing PMI (Nov) data from the United States.
At the same time, United States ISM Non-Manufacturing PMI (Nov) came out at 56.5, while a consensus of analysts was expecting 53.3. United States Factory Orders came out at 1%, better than analyst estimates of 0.7% and improving upon the previous reading of 0.3%. United States ISM Non-Manufacturing Employment (Nov) released today at 15:00 UTC with a figure of 51.5, while the previous figure was 49.1.
Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to momentum evaluation, according to technical analysis of Trulieve Cannabis's Relative Strength Index (RSI), the market is currently overbought. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $14.97, thereby suggesting that Trulieve Cannabis is becoming overvalued.
Overall, while Trulieve Cannabis has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
While Trulieve Cannabis is higher so far today, these health care stocks are struggling: after closing the previous session (Friday) at $108.09, Abbott Laboratories lost $2.8 and is trading around $105.29. Eli Lilly and Company is trading around $369.06 (down 1.52%). Thermo Fisher Scientific is down to $555.46, losing 1.34%, after ending Friday at $563.
Also worthy of note, United States EIA Short-Term Energy Outlook is scheduled for tomorrow at 17:00 UTC.
The stock has been trending positively for about a month. 2 months ago, the medical and recreational cannabis provider fell to a low of $8.5 but has since recovered 70%.