Bulls today were in full control printing a candle on the daily. Anything under 12.95 is a lower high on the daily, and I anticipate that to be set around $12.75. I would be very impressed if the bulls were able to break $13.00 psychological first thing tomorrow.
The setup here is different than it is on Canopy; Canopy didn't set any hourly support today, but Aurora has a new hourly support to watch at 12.26. The most scenario would be to hold that level then go for a bull-break of 12.95. Losing that support will have us looking down at 12, and 11.69.
If we do lose 12.26 that level I'll be watching the bear on the pullback to anticipate the extent of the pullback we will see. If we do ultimately break 11.69 in the coming days, that would put Aurora into a daily downtrend, but I see no warning signs of this happening at this time.
The range to watch is is 11.69 - 12.95.
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If we get rejected at 12.94 again i do expect a drop like canopy did from when it failed to close over $70. Then a strong rally up until legalization. Nonetheless i'm comfortable with the pullback, its some what healthy.
rising interest rates send stocks skitting.