Hello Traders,
on November 19, Aurora stock starts a „three-white-soldiers“-formation as did CGC the same day. This classic candle-stick pattern is bullish as I explained before.
It occurs at the bottom of a multi-month decline for the stock, that retraced a 0.42 Fibonacci of the advance from 0.19 US$-12.53 US$!
This decline is an a-b-c-flat correction, within that wave „c“ retraced shy below the 1.5 Fibonacci of wave „a“; a common target range for the wave.
On November 19, the stock opened the session with an „exhausting-gap“ that occurs only at the end of a trending phase of the market, in this case, a declining phase! So, the following days have been bullish for the stock. The pause in the „short-term“ uptrend took nine days, and today's candlestick is a bullish one, that has to break above the high of 2.62, were it ended yesterday`s session. A breakout above this level indicates more buying pressure.
On the other hand, a decline below the level of 2.36-2.34 (closing basis), which is just two cents above the 0.786 Fibonacci, is bearish and will eliminate the bullish view and will turn my stand neutral!
If the stock will extend his short term gains, a possible target range is at or around the declining trend channel @ 2.82-2.80, depending on if and when it will be achieved!
A personal note to my analyze. I just try to analyze as best as I can with my knowledge of Elliott wave and technical analysis. It is no problem for me to to be confronted with criticism, but not in that way as it happened the past days. My analyze can be wrong, normally I wrote this below my analyze. It is not interesting for me, what a stock will do in the eyes of everyone else, I just try to judge, without emotion and only with a view that gives the wave`s to me. This can be wrong or even not!
Every critic that is outside the fair rules, and of course the house rules of TV, will I keep reporting to TV! Every fair critic is welcome!
If this won't stop, I stop publishing my analyze here at this pages.
I will update the chart in the coming hours and days.
Have a great week...
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!
on November 19, Aurora stock starts a „three-white-soldiers“-formation as did CGC the same day. This classic candle-stick pattern is bullish as I explained before.
It occurs at the bottom of a multi-month decline for the stock, that retraced a 0.42 Fibonacci of the advance from 0.19 US$-12.53 US$!
This decline is an a-b-c-flat correction, within that wave „c“ retraced shy below the 1.5 Fibonacci of wave „a“; a common target range for the wave.
On November 19, the stock opened the session with an „exhausting-gap“ that occurs only at the end of a trending phase of the market, in this case, a declining phase! So, the following days have been bullish for the stock. The pause in the „short-term“ uptrend took nine days, and today's candlestick is a bullish one, that has to break above the high of 2.62, were it ended yesterday`s session. A breakout above this level indicates more buying pressure.
On the other hand, a decline below the level of 2.36-2.34 (closing basis), which is just two cents above the 0.786 Fibonacci, is bearish and will eliminate the bullish view and will turn my stand neutral!
If the stock will extend his short term gains, a possible target range is at or around the declining trend channel @ 2.82-2.80, depending on if and when it will be achieved!
A personal note to my analyze. I just try to analyze as best as I can with my knowledge of Elliott wave and technical analysis. It is no problem for me to to be confronted with criticism, but not in that way as it happened the past days. My analyze can be wrong, normally I wrote this below my analyze. It is not interesting for me, what a stock will do in the eyes of everyone else, I just try to judge, without emotion and only with a view that gives the wave`s to me. This can be wrong or even not!
Every critic that is outside the fair rules, and of course the house rules of TV, will I keep reporting to TV! Every fair critic is welcome!
If this won't stop, I stop publishing my analyze here at this pages.
I will update the chart in the coming hours and days.
Have a great week...
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!