ruebennase

Aurora Cannabis...I like the bullish view!

NYSE:ACB   AURORA CANNABIS INC
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Hello Traders,
while many readers ask for.....here it is..
Aurora Cannabis!
Short term view:
The low on November 19 @ US$ 2.14 was followed by a massive gain for the stock and achieved to 3.25 on November 21! A nearly 50% gain that could be labeled as a „five-up“! The following correction retraced a steep 0.786 Fibonacci of the advance, what is the maximum I`d like to see within a wave „2“ correction. So, at first hand, a solid close below this level (@2.38) will strengthen the odds, that something other is developing for ACB!
As for CGC , so it is for ACB . I`d like to play the bullish card and the structure from the 2.37 low is either a series of „one`s and two`s“ or it is an „a-b-c“ structure and so it is corrective.
To judge one or the other side, I like to see more evidence for both!
As you know, a wave „2“ of any degree is able to retrace a 99,99% of the preceding wave one, less common, but still valid. So the level to watch is first the 2.38 (closing basis) and below the low @ 2.14! Any decline below this level will rescind the bullish forecast and make my stand neutral.

Have a great week
ruebennase

Feel free to ask or comment.     
Trading this analyze is at your own risk!
your elliot count is off, but the general idea I believe to be correct.
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@Mtn-Dew,
Why?
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I guess no one see's the beautiful descending triangle that brings us down to $2.33, therefore breaking the .786 fib level perhaps with a wick where we get a small bounce back up to $2.38 and head back down. Why are people bullish on this stock? There is absolutely no reason to be bullish. We have broken practically all major supports. Aurora is burning through cash and soon won't be able to buy a 2 dollar whore. No one is looking to partner with them and I mean no one. There financial statements can't and wont show even a chance of profit for at least another 2 years. They are having problems with shelf life where Germany even shut down sales. They have so much extra pot laying around, where it's enough to get every galaxy in existence fucked up! So I get it, Millennial's are bullish because they think that any stock that's down 80% from all time high's must be a buy and is soon to break out. So tell me, where do you see anything bullish about this chart? Big deal we bounced to $3.30, so that must be a wave 1 right? Wrong. I would not be posting bullish speculation with absolutely nothing to back it up. Your giving newbies false hope and bad info.
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It has been a short all year long... I am going completely flat after riding the 75% crash !!
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20 minutes graphic? are you considering us IDIOTS? sing at a different table, ACB sucks have a lawsuit on its wing coming, guys whom want to speculate on this be aware.
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@ABG1968,
I don't know if you're an idiot, but you write like one. You're out!
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ABG1968 ruebennase
@ruebennase, lol sing at a different table, told you in a nice way that you are the one you call de facto an idiot. I out do you think i care. ( you don't analyze 20 minutes charts and call then for days of bullish movements, you mislead people, you know nothing about this company yet call for bullish actions).
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ABG1968 ABG1968
@ABG1968, there u go a chart at 1D, that can talk about a possible peek in the future. The company has a LAWSUIT pending.
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@ABG1968, Tons of companies have lawsuits.. means nothing unless you can make some specific points. At least base your stance on something with a little more substance. To be honest, here you are just coming across like an ass here.
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ABG1968 stallrussell
@stallrussell, yes but this one is initiated by the shareholders. I guess not tons of companies are sued by their owners
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