Raw_Blitz

Aurora Cannabis - What Now ?

TSX:ACB   AURORA CANNABIS INC
Dear Traders,

Yesterday was a pretty weird day for ACB , we expected a run, we got one, but it wasn't as powerful as we hopped. I new All Time High ( ATH ) got created tho, but the question is, is there more to come

Reviewing the Chart I decided to trace some lines to see where wee are at. As we all can see Our RSI is still above 50 but for how long ? Our MACD isn't ready to cross upwards yet so this makes me feel like this price is going down more. Towards the 55 ema (blue line).

If the bulls manage to open with a nice bump it would do some good to this chart, but if we open with a downtrend, that 55 ema is imminent. I personally enterred a position yesterday hoping the bulls would create a run-up last minute but that didn't happen and my stoploss is set but not hit yet. Let's see how this plays-off today!

If the 55 ema get's hit, do make sure to look at what the MACD is doing and where the RSI is at before making an entry.

We are now inside a bearish channel and the only way the price will go up is if the bulls manage to breakout of it.

For now i'm Neutral regarding Aurora but with some luck and some good volume , we could see something good coming out of this, but that ain't certain at all.
My opinion? stay out until further notice.
Comment: ACB hit our support line, and bounced off.
NowACB needs to close above the 55 ema to be bullish, if that doesn't happen, and our support line gets crossed, we will be bearish.
Comment: Resistance Line 1 Breached. Price will drop towards 12.70$ and then bounce up ? Keep your eyes on the charts!
Comment: ACB followed my red support line perfectly, crazy how those lines work out great most of the times. This means bulls took back control and we are now heading for a new higher high ? who knows.
Comment: ACB rocking it !
Hi, I’m new & learning the chart. I see it’s going to drop unless a Coke deal happens and brings it through. I am guessing it will drop to mid 12 and go lower in the next few days!
Reply
Raw_Blitz jontrancanada
@jontrancanada, Same thoughts ! I sold my position in ACB waiting for more good news.
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jontrancanada Raw_Blitz
@Raw_Blitz, damn, it went up! I gotta review my analysis. Sorry.
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Raw_Blitz jontrancanada
@jontrancanada, we have to keep in mind that hte 17th is coming closer.. That plus there was a internet publication saying which would be the best choice as an investor, Canopy or Aurora, and they said that Aurora is the better choice. I think that might have given the chart more buy volume and momentum !
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jontrancanada Raw_Blitz
@Raw_Blitz, I would stay away from Aurora until later 10.5 - 11.5. APH is better but it's way too high, I'm looking at the target $16 range. Nonetheless, I see Hexo and OGI may give better return, especially Hexo with 1b in supply plus the beer JV! OGI is going Organic and partnership with Weed!
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Raw_Blitz jontrancanada
@jontrancanada, I did'nt know Organigram was partnering up with Canopy !
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Comment removed.
Raw_Blitz Frenk_Hunk
@Frenk_Hunk, Reported.
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