ACB looks close to me for a C wave bottom in this correction based on my counts.
ALSO TO NOTE....BROKE OUT OF DOWNWARD RESISTANCE IT'S BEEN IN SINCE MAR '19
SHOWING TRIPLE MAC D BULLISH DIVERGENCE ON THE 4HR TIME FRAME.....GETTING PRIMED ?
ACB about to complete pattern. Should be nice move up if and when it breaks out
ACB . BREAKOUT OF BULL PENNANT THEN BACK TEST. LOOKS LIKE PRETTY LOW RISK ENTRY. ALSO DOESN'T HURT THAT THEY RAISED PRICE TARGET AT ONE FIRM TO OVER 21 DOLLARS. Cantor’s Pablo Zuanic maintained an Overweight rating for Aurora Cannabis, while raising the price target from 27 Canadian dollars ($19.89) to 29 Canadian dollars ($21.37).
Hi there. Price is forming a continuation pattern to the upsisde. Wait for the price to complete the pattern and watch strong price action for buy.
Who knows... Looks like a possibility to me.
$ACB Bullish Pennant Breakout See chart for possible near term targets Note: Not investment advice.
Since the parabolic price movement to the upside which occurred after the stock split ACB has since consolidated into a bullish flag or a descending triangle.
If it holds 4.44 next week, it should be bullish. If it breaks 4.33, be careful on the downside.
A classic harmonic pattern suggests that ACB will close the gap at some point this year. Even if the falling wedge breaks to the upside, it remains to be seen if it can reach new highs. Personally, I don't think it realistic to see ACB rebound fully, before they've shown consistency in earnings and revenue, unless some big news catalyst will restore investor...
If you like the cannabis space here is one to watch if it breaks its downward channel. Target 25.83.
While I am almost certain that there is more pain ahead on the earnings front, at the current valuation, ACB is trading with a market cap this is almost in line with their fundamentals. I would say a market cap of just around $1B would be fair value, while it currently trades with a market cap of roughly $1.4B. ACB has my interest again since they are cleaning...
The Cannabis industry has had a great run, but overvalued pig CGC put an abrupt hold to the recent rally with a desasterous earnings report, dropped without warning on a market that expected them to deliver in line with just 3 months ago. Snakes in the grass! A sell off was imminent anyways, with all that FOMO buying in the 3 days prior... That said, APHA was due...
CRON has broken out of the descending triangle pattern (reversal) with a strong bullish candle (+21%) on 6/8/20. This is an interesting setup since the descending triangle chart pattern seemed to form at the end of the downtrend. Over the last several months pot stocks have gotten hammered. Some stocks even falling +90% during the bear market. The fundamentals are...
Looking to fill the lower GAP as well as retest lows. If it can maintain support at that level, might see a nice move to the top.