Yesterday at a glance: Village Farms has almost recovered all its losses from a previous close of $2.1 after dipping down to $2.06 yesterday.
Village Farms International, Inc. made an initial break below its 10 day Simple Moving Average at $2.09, a possible indication of a forthcoming negative trend. Village Farms's upper Bollinger Band® is at $2.18 which indicates a further downward move may follow. On the other hand, note that Village Farms could begin to recover as it approaches significant support, now 4 cents away from $2.06. Dipping below could be an indication that further losses are ahead.
In the short term, Village Farms is expected to maintain its recent downtrend and continue spiralling lower.
On the other hand, positive performances could be seen by looking at other consumer staples stocks as Procter & Gamble traded at $136.5 after closing yesterday's trading day at $134.44 (up 1.53%). Walmart was up 1.05%. Anheuser-Busch was up 1.23%.
In addition, United States Crude Oil Inventories is projected to outperform its last figure with 1.1 million. It previously stood at -3.12 million; data will be released tomorrow at 15:30 UTC.
Furthermore, United States EIA Short-Term Energy Outlook will be released today at 17:00 UTC.
On a negative trend for around a month. Approximately 11 months ago, Village Farms reached a significant high of $9.26 but has struggled to hold onto its gains and declined 77.32% since then.