A quick look at today: Village Farms rallied 5.65% and ended the session at $1.31.
New United States Crude Oil Inventories improved upon the previous -5.89 million figure while also exceeding analyst expectations with a reading of 718,000.
Village Farms's uptick comes amid good United States macroeconomic data released during the day — United States Crude Oil Inventories came out at 718,000, better than analyst estimates of -1.52 million and improving upon the previous reading of -5.89 million.
On the flip side, highly important Initial Jobless Claims data from United States beat analyst expectations of 225,000 with a reading of 225,000. United States Pending Home Sales released earlier showed a marked improvement to -4% from the preceding data of -4.6%, but fell short of the -0.8% figure forecast by a consensus of market analysts.
Village Farms International, Inc. made an initial breakout above its 5 day Simple Moving Average at $1.3, a potential indicator of a newly emerging bullish phase. Village Farms broke through the $1.31 resistance, climbing 5 cents above it.
Overall, looking at the technical analysis landscape, it seems Village Farms might continue pointing upwards in the short term.
A look at other consumer staples stocks also showed bullish price action as Coca-Cola was up 0.6%. Walmart gained 0.61%, as it traded at $142.15. Diageo traded at $179.43 after closing today's trading day at $178.19 (up 0.7%).
Trending downwards for around a month. The consumer packaged goods provider has fallen back around 82.49% from the significant high of $7.08 set 11 months ago.