A quick look at yesterday: the Canadian cannabis spearhead dropped 7.37% early on and traded close to the 96.34 cents level.
United States Building Permits (Nov) is next today at 13:30 UTC.
Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, Aurora Cannabis's lower Bollinger Band® is at 93.0453 cents, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Aurora Cannabis's notable support and resistance levels: Aurora Cannabis could begin to recover as it approaches significant support, now 4 cents away from 92.8267 cents. Dipping below could be an indication that further losses are ahead.
All in all, the technical analysis suggests Aurora Cannabis has no clear-cut direction.
Aurora Cannabis was not the only decliner in the health care sector; Novo Nordisk went down 1.93%, closed at $133.18. Thermo Fisher Scientific went down to $530.17, losing 1.17% after it closed at $536.44 yesterday.
On the other hand, positive performances could be seen by looking at other health care stocks as AbbVie was up 0.63%.
Looking ahead, ongoing depreciation may be prolonged as tomorrow at 15:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -167,000 from the preceding figure of 10.23 million.
Furthermore, United States Existing Home Sales (Nov) scheduled to come out tomorrow at 15:00 UTC. United States Building Permits (Nov) is expected today at 13:30 UTC.
Pointing downwards for around a month. Aurora Cannabis hit a significant low of 96.34 cents around a day ago, but has since recovered 7.95%.