A quick look at yesterday: the Canadian cannabis producer went up to $1.32, gaining 3.94%.
United States Non Farm Payrolls data will be released today at 13:30 UTC, with an expected decline to 200,000.
Aurora Cannabis's uptick comes amid good United States macroeconomic data released during the day — highly important Initial Jobless Claims data from United States beat analyst expectations of 235,000 with a reading of 225,000.
Meanwhile, United States ISM Manufacturing PMI (Nov) released yesterday at 15:00 UTC with a figure of 49, while the previous figure was 50.2. United States Core PCE Price Index (MoM) (Oct) came out at 0.2, while a consensus of analysts was expecting 0.3.
Aurora Cannabis Inc. made an initial breakout above its 10 day Simple Moving Average at $1.33, a potential indicator of a newly emerging bullish phase. On the other hand, note that Aurora Cannabis could be slowing down soon as it approaches resistance at $1.32. Of course, crossing it might suggest further gains are ahead.
Overall, looking at the technical analysis landscape, it seems Aurora Cannabis might continue pointing upwards in the short term.
This rally in Aurora Cannabis's share price coincided with other health care stocks as Pfizer was up 1.9%. Novo Nordisk gained 1.23%, as it traded at $126.13.
While Aurora Cannabis was bullish yesterday, the following health care stocks underperformed: UnitedHealth closed at $536.91 (down 1.98%).
Furthermore, the market is looking at United States Non Farm Payrolls projected to decline to 200,000 while previous data was 261,000; data will be released today at 13:30 UTC.
The market is looking forward to the release of new data: United States Unemployment Rate is expected today at 13:30 UTC.
The Canadian cannabis spearhead is now trading 80.67% below the significant high of $6.57 it set around 11 months ago.