After the pot stuck bubble popped we've been stuck in some long complex correction most likely a WXY. If this counts correct we're nearing the end of this correction. It seems everytime ACB makes a major move it first forms bullish divergence on the 6 hour (2 or 3 touches )
I will be waiting for this divergence to form or if we break outta the downward trend line...
At first look ACB appears to be putting in a Giant Topping formation however with closer look I have been able to see its true intentions. First we have class A bullish divergence on MACD histogram and hidden class B bullish divergence on RSI.
Also we have a possible strong reversal setting up, due to the very similar nature between ACB Weekly chart & and Adam...
Hey guys. So I have always been a fan of marijuana stocks and who can love trading the devils lettuce, but not trade ACB!?
Over the summer we had a big sell off in the sector, but that was expected after the run we had that winter. The market is starting to catch some support and we are seeing more consistent green days for the green good. At this point in time...
Today’s chart will be on ACB – AURORA CANNABIS INC, respected trend line perfectly!
Points to consider,
- Trend overall bullish
- Broke resistance, now potential support on re-test
- EMA’s turning bullish
- Stochastic showing upwards momentum
- RSI broke its resistance
- Volume starting to increase
- Next local resistance areas are the...
Today we're looking at how the Directional Momentum Flux (DMF) strategy performed against Aurora Cannabis Inc (NYSE: ACB) during a two-week study period. Overall performance of ACB was not very strong during the period (7/15 to 7/31/2019), but DMF was able to identify many momentum inflection points and capture quite a decent return of around 44%....
Currently testing the big daily trend line, offering great opportunity to buy with a good stop. With more countries in Europe considering legalising cannabis, industry stocks expected to gain a boost soon. Good Luck!
ACB is now trading at an area of critical support. I am playing this area long however if it closes a 3day candle below the 200ema it would be in danger of entering a bear market cycle. The last several months have just been a long period consolidation and that trend is likely to continue.
(Not financial advice)*
Looking to swing ACB from the $6.3 range up to that mid point of the downward trend @ around $7.4-7.6 - Small play but something to help get us to earnings season!
Cannabis industry has been tough lately - watch positions closely.
As shown in chart. TLRY could benefit of a big rally if we can cross the $56.50 SMA(50) line with strong volume.
RSI @62 with a stronger comeback from being oversold. (Check chart drawings)
*Always set your stop-limits to protect your position, as well as exit-profit targets to get your gains.