During a 7 day fall, dropping a total of 13.64%, (23 cents), A possible change of direction spotted from Wednesday; generally flat but with a slight bullish bias, Aurora Cannabis ranged between $1.29 and $1.37 before closing higher at $1.33.
Aurora Cannabis Inc. made an initial breakout above its 21 day Simple Moving Average at $1.35, a potential indicator of a newly emerging bullish phase. On the other hand, note that Aurora Cannabis reversed direction at $1.37 resistance zone and retreated back 4 cents below it.
Examining the technical analysis landscape, Aurora Cannabis might continue its downtrend in the short term.
A look at other health care stocks also showed bullish price action as Novo Nordisk traded at $117.83 after closing Wednesday's trading day at $115.38 (up 2.12%). Medtronic was up 1.4%.
The stock has been trending positively for about a month. 11 months ago the Canadian cannabis producer reached a significant high of $6.79 but has consequently lost 80.71% since then.