Yesterday at a glance: after closing the previous trading day at $1.1 and dropping to $1, the Canadian cannabis producer closed yesterday at $1.04. By the end of the session, Aurora Cannabis gave up a total of 5.45%.
Following a previous reading of 1.2%, Core Retail Sales in United States released yesterday at 13:30 UTC fell short of the 0.2% figure expected by analysts with an actual reading of -0.2%. United States Retail Sales published yesterday at 13:30 UTC came out at -0.6%, falling short of the -0.1% projections and continuing its decline from the previous 1.3% figure.
Amid the market gloom, United States Philadelphia Fed Manufacturing Index (Dec) released yesterday at 13:30 UTC with a figure of -13.8, while the previous figure was -19.4.
Trend 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. Asset volatility analysis shows that Aurora Cannabis's lower Bollinger Band® is at $1, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Technical analysis of Aurora Cannabis's past price action reveals multiple support and resistance levels: Aurora Cannabis could begin to recover as it approaches significant support, now 4 cents away from $1. 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; CVS Health drops 3.06% yesterday to close at $100.68. Bristol-Myers Squibb Company lost 2.77% yesterday and closed at $75. Abbott Laboratories lost 2.46% yesterday and closed at $108.52.
Pointing downwards for around 30 days. A day ago, the Canadian cannabis producer fell to a low of $1.04 but has since recovered 5.77%.