Though in the midst of a 3 day uptrend, gaining a total of 23.14%, (32 cents), Yesterday's session suggests run might be coming to an end — despite the risk-off mood, Aurora Cannabis was range-bound between $1.46 to $1.62 and settled at $1.49.
United States Producer Price Index is next today at 13:30 UTC.
Amid the market gloom, United States CFTC Gold speculative net positions released yesterday at 19:30 UTC with a figure of 82,300, while the previous figure was 64599.99999999999. United States CFTC Nasdaq 100 speculative net positions released yesterday at 19:30 UTC with a figure of -2,400, while the previous figure was -15,200. United States CFTC S&P 500 speculative net positions came out at -177,100.
Trend-focused traders would be interested to note that investors are seeking long positions as Aurora Cannabis Inc. price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Aurora Cannabis is currently flirting with an active Fibonacci support level around $1.5. Asset volatility analysis shows that Aurora Cannabis's upper Bollinger Band® is at $1.53 which indicates a further downward move may follow. Visual analysis of Aurora Cannabis's chart shows that the nearest support level is at $1.33, to be followed by $1.12.
Notwithstanding Aurora Cannabis's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
On the other hand, positive performances could be seen by looking at other health care stocks as Pfizer gained 3.45%, as it traded at $49.24. Merck was up 2.44%.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of 1.36 million, following on from the preceding figure of 3.92 million. New data is set to be published tomorrow at 15:30 UTC.
Moreover, United States Core Retail Sales is projected to outperform its last figure with 0.4%. It previously stood at 0.1%; data will be released tomorrow at 13:30 UTC.
Furthermore, United States Producer Price Index is expected today at 13:30 UTC.
The stock has been trending positively for about a month. Having set a significant high of $8.32 22 days ago, Aurora Cannabis is trading 47.12% lower.