The Canadian cannabis producer drops 3.06% in early trade and remains within touching distance of the 57.89 cents level.
United States's Consumer Confidence new data released of 101.3 below its previous figure.
Highly important Consumer Confidence data from United States beat analyst expectations of 104 with a reading of 101.3.
Amid the market gloom, United States New Home Sales (Mar) came out at 683,000, while a consensus of analysts was expecting 630,000. United States Building Permits released today at 12:10 UTC with a figure of 1.43 million, while the previous figure was 1.55 million.
The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions. In contrast, Bollinger Bands® shows an indication of recovery: the lower band is at 59.1198 cents, a low enough level to, generally, suggest that Aurora Cannabis is trading below its fair value. Aurora Cannabis could begin to recover as it approaches significant support, now 2 cents away from 57.6733 cents. Dipping below could be an indication that further losses are ahead.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Aurora Cannabis.
Aurora Cannabis's stock value drop coincides with Thermo Fisher Scientific is down to $555.25, losing 3.32%, after ending yesterday at $574.3.
Positive performances can be seen by looking at other health care stocks as Novartis is trading at $104 after ending yesterday's session at $100.59 (up 3.39%). Sanofi is trading at $57.41 after ending yesterday's session at $56.61 (up 1.42%).
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as tomorrow at 12:30 UTC data for United States Core Durable Goods Orders will be released, with an expected decline to -0.2% from the preceding figure of -0.1%.
In addition, United States Crude Oil Inventories is projected to outperform its last figure with -1.67 million, having previously been at -4.58 million. The figure will be published tomorrow at 14:30 UTC.
Trending downwards for around 2 months. The Canadian cannabis producer has fallen back around 81.28% over the past 11 months, from a notable high of $3.19.