Friday at a glance: after dipping down to $2.03, Village Farms regained earlier losses and closed at $2.14.
United States ISM Non-Manufacturing PMI (Nov) is next today at 15:00 UTC.
Although Village Farms International, Inc. is appreciating today after rising as high as $2.26, price action is now slowing and consolidating around 12 cents below the $2.26 resistance level. Despite posting gains on Friday, Village Farms slid below its 50 day Simple Moving Average at $2.05 during the last session — an early indicator that a negative trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at $2.32, thereby suggesting that Village Farms is becoming overvalued.
Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates Village Farms is set for a reversal in the coming days.
A look at other consumer staples stocks also showed bullish price action as Philip Morris International added 1.8% to its value, and traded at $104.3. Procter & Gamble traded at $150.61 after closing Friday's trading day at $149.25 (up 0.91%).
While Village Farms was bullish Friday, the following consumer staples stocks underperformed: Costco closed at $494.53 (down 1.85%).
Elsewhere, United States ISM Non-Manufacturing PMI (Nov) will be released today at 15:00 UTC. United States EIA Short-Term Energy Outlook is scheduled for tomorrow at 17:00 UTC.
10 months ago the consumer packaged goods provider reached a significant high of $7.08 but has consequently lost 70.2% since then.