ACB along with other cannabis stocks are up this month on news that marijuana may be reduced down to a lower schedule level.
News headline : "On Tuesday, August 29, the U.S. Department of Health and Human Services (HHS) in a historic move officially recommended cannabis' controlled substance classification be changed from Schedule I to Schedule III ".
This was...
Very bullish setup on ACB today, a Wyckoff spring (liquidity tap) has formed. We have a nice "b" volume profile with lots of volume imbalances at higher price levels. On top of that the MACD histogram is showing a bullish divergence.
I have marked potential take profit areas (pink boxes).
ACB has been falling for quite some time.
It currently appears that there may be a bearish running flat with a fantastic direction of trend entry!
Never forget to manage your risk and never break your own trading rules!
Hello, traders!
This chart has taken a beating as coming from a high of $150.00 to now currently it is at $0.53 per share. A decrease of 99% and it appears, it will continue.
What we are currently looking at is a bearish channel, an indicator of consistent downtrend, and has broken out on the 1 hour time frame, signaling an intensification of the bearish trend....
question is does earnings report Wednesday help us breakout or give us another rejection from trend resistance?
break of trend/zone resistance levels around .70 and we could easily rally 50-100%+🚀
bad ER and the downtrend its been in all year continues.. 20-50% more downside if we fail to breakout🐻 I may enter lotto long right before earnings no position yet...
On the 4H chart ACB has dropped out of a head and shoulders pattern list winter with high
volume into a downtrend with lower volume now into support / demand as shown by the
Luxalgo indicator. The anchored VWAP is also trending downward with support at the minus 1
and minus 2 standard deviations. The volume profile shows the majority of the recent share...
Aurora is floating and relaxing in our turquoise zone between $1.19 and $0.55 and has drifted below the 61.80%-retracement at $0.95. Although the share could finish wave II in white anytime as it has sufficiently tapped the turquoise target zone, we rather expect Aurora to sink a bit deeper still to conclude the current movement. However, by the bottom of the...
We should have a big wave up testing the 200 day MA and the VWAP resistance. I am expecting volume to gain momentum with this wave up. Let see what happen.
ACB over the last 4yrs has tanked from its ATH, stock is now under $1. hopefully the next 3-4yrs produces something special. ih&s to develop at the bottom and recover the POC before testing $10 area
Looks like it, we have another touch of the bottom of the wedge and bullish divergence on MACD. A first potential target zone is around $1.50-$1.60 and second target zone should be a double top at around $1.90-$2.0.
An idea showing a large falling wedge with an accompanying breakout in green bars pattern.
This is the daily chart.
The down trend could also be interpreted as a down channel if you sketched it a bit differently, but I prefer a falling wedge for the bullish result
So beaten down, Sellers appear to have exhausted for now. A short squeeze and reversion to the mean, could mean a spring up much higher. R/R is good enough for me to take a very small position and let it ride. No stops. If it goes to zero so be it.
Continues to consolidate but will not go down forever
It's time to activate our wake-up call to get Aurora back into motion, since we expect the course to rise up North, even though it is still creeping sideways momentarily. In our alternative scenario, there is a slight probability of 33% that the course could drop below the $1.14 support line instead. In this case, it would continue to move South until it reaches...
Its hard to believe this stock has lost over 99% from its 2018 high.
Early, mid and even recent cannabis adopters have been crushed.
Was it hype, hubris or too much indulgence of the product ? Who knows .
Ours is to find a profitable trading plan with the odds in our favour.
There have been many points along the way to establish long positions, but like...
This is what I currently see for ACB. The stock has been basically trading sideways since June 2022 and found a low on October 11th. We currently dipped back into the demand zone from October and I expect price to retest the August high. My initial targets are $2 and $3 in the long run. Once we leave the accumulation phase this one, inlcuding $TRLY and $OGI, should fly.
Aurora Cannabis, Inc. engages in the production, distribution, and sale of cannabis products. It also produces and sells indoor cultivation systems and hemp related food products. The firm operates through the Canadian Cannabis and International Cannabis segments. Aurora Cannabis was founded by Terry Booth and Steve Dobler on December 21, 2006 and is headquartered...
