The US stock market is closed for the Good Friday holiday and resumes today. Meanwhile, here is a recap of Thursday: after ending Wednesday at 75 cents, Village Farms went up to 78 cents only to drop back, yet still traded well overall and closed at 78 cents Thursday.
Village Farms International, Inc. broke through the 78.9833 cents resistance and climbed above it 1 cents; next resistance level is at 79.9667 cents. Village Farms made an initial breakout above its 10 day Simple Moving Average at 80.623 cents, a potential indicator of a newly emerging bullish phase. Village Farms's lower Bollinger Band® is at 72.9478 cents, indicating that the market is oversold and fertile for new buyers.
Village Farms continues to move higher with technical analysis indicating the trend will continue in the short term.
A look at other consumer staples stocks also showed bullish price action as Walmart traded at $150.8 after closing Thursday's trading day at $149.67 (up 0.75%). Procter & Gamble was up 0.63%.
While Village Farms was bullish Thursday, the following consumer staples stocks underperformed: Costco went down to $486, losing 2.24% after it closed at $497.13 Thursday.
The market is looking forward to the release of new data: United States EIA Short-Term Energy Outlook scheduled to come out tomorrow at 16:00 UTC.
Pointing downwards for around 2 months. The controlled environment agriculture pioneer is now trading 84.63% below the significant high of $4.88 it set around 11 months ago.