VictorCobra

Bargain Hunting - OBV Divergence?

Long
NASDAQ:ACB   Aurora Cannabis Inc
This is just a thought here - although this appears to be a never-ending downtrend, I wonder if this on-balance volume divergence signals something. This shows that buyers are willing to step in here a bit more aggressively than the previous "bottom," as shown by higher OBV despite lower prices - even though OBV has declined overall since its peak. We're also seeing higher OBV in general since 2021, which could signify aggressive accumulation despite continued decline in value. This sort of behavior can be seen throughout the cannabis industry.

ACB is roughly 98-99% down from its all-time high. Not that it could ever get back up there, but I think at least a return to the $6-7 range is possible over the coming months. However, since the downtrend has technically not ended, there is still significant risk of continuation to the downside. Seems worth a speculative gamble though, as per my last stock analysis and being "strategic."

Overall, I'm only down 12% on stocks since I started investing slowly since last year. Not too bad, considering how far down big tech has tumbled. That's probably because I've stayed away from big tech, and been pretty careful about investing too much in weed stocks, at least until prices started to get obscenely low. I also managed to stabilize my portfolio by investing in Uranium ETF's, which helped a bit.

-Victor Cobra

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