Yesterday at a glance: Aurora Cannabis rallied 8.26% and ended the session at $1.31.
At the same time, United States Core Consumer Prices released yesterday at 13:30 UTC with a figure of 0.3%, while the previous figure was 0.6%. United States Consumer Price Index came out at 0.4%, while a consensus of analysts was expecting 0.6%. Fresh Consumer Price Index data from United States came out at 7.7%.
Aurora Cannabis Inc. made an initial breakout above its 50 day Simple Moving Average at $1.29, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $1.33 currently serving as resistance Despite this, Aurora Cannabis could be slowing down soon; it is getting close to the resistance line and is now at $1.35, only 4 cents away. Crossing the resistance line could, however, suggest that 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 Thermo Fisher Scientific traded at $520.58 after closing yesterday's trading day at $484.71 (up 7.4%). Astrazeneca PLC was up 6.62%. Abbott Laboratories gained 4.8%, as it traded at $104.23.
The stock has been trending positively for about 30 days. Aurora Cannabis is now trading 85.76% below the significant high of $8.5 it set around 11 months ago.