A quick look at Friday: pronounced bearish sentiment in the market pushed the Canadian cannabis spearhead into a notable 2.61% slide Friday, falling 1.72 cents and ultimately closing at 64.07 cents.
A study of Aurora Cannabis's historical price actions shows Aurora Cannabis Inc. could begin to recover as it approaches significant support, now 1 cents away from 63.32 cents. Dipping below could be an indication that further losses are ahead. Trend analysis indicates that Aurora Cannabis made an initial break below its 5 day Simple Moving Average at 65.542 cents, a possible indication of a forthcoming negative trend. According to asset volatility analysis, Aurora Cannabis's lower Bollinger Band® is at 62.4033 cents, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Overall, the technical outlook suggests Aurora Cannabis is likely to remain muted for the immediate future, with no clear-cut direction.
Aurora Cannabis was not the only decliner in the health care sector; UnitedHealth went down to $511.79, losing 2.74% after it closed at $526.23 Friday. Astrazeneca PLC closed at $73.86 (down 1.22%). Medtronic closed at $80.71 (down 1.08%).
Trending downwards for around 2 months. Having set a significant low of 64.07 cents 2 days ago, the Canadian cannabis spearhead is trading 2.68% higher.