AURORA CANNABIS (ACB) | Risky, But Probably Worth It!
Hi,
Aurora Cannabis Inc. produces and distributes medical cannabis products.
Obviously, it has some mixed fundamentals but technically it may find some buyers around 2.00 - 2.50.
Technical criteria are pretty strong, some of them are a bit subjective but in general, we have a strong crossing area. The green box consists of:
1) 2016 & 2017 high/resistance should start to work as a support level.
2) Actually, it has already started to act as support. In the last week, the price got a rejection upwards from the gray area (2016/17 high) and formed a Spinning Bottom candlestick pattern - bullish candlestick pattern.
3) Now, a bit subjective but still, channel projection worked as a support level and they make up a crossing area with the gray zone.
4) The crossing area becomes even stronger because we have D point exactly inside of it from the pattern called AB=CD
5) Fibonacci Extension 127% should make it (marked bounce area which stays between 2.00 - 2.50) also a bit stronger.
6) The current seasonal "pattern" favors buyers. It means that the end of the year has been pretty profitable for Aurora and the last upwards rally started about a year ago also in December.
Target is up to you but the strongest resistance level stays around the 5.00 and if it reaches there from the current area then it will be 100%+ profit.
Do your own research and please, take a second and support my effort by hitting the "LIKE" button, it is my only FEE from You!
Best regards,
Vaido
Aurora Cannabis Inc. produces and distributes medical cannabis products.
Obviously, it has some mixed fundamentals but technically it may find some buyers around 2.00 - 2.50.
Technical criteria are pretty strong, some of them are a bit subjective but in general, we have a strong crossing area. The green box consists of:
1) 2016 & 2017 high/resistance should start to work as a support level.
2) Actually, it has already started to act as support. In the last week, the price got a rejection upwards from the gray area (2016/17 high) and formed a Spinning Bottom candlestick pattern - bullish candlestick pattern.
3) Now, a bit subjective but still, channel projection worked as a support level and they make up a crossing area with the gray zone.
4) The crossing area becomes even stronger because we have D point exactly inside of it from the pattern called AB=CD
5) Fibonacci Extension 127% should make it (marked bounce area which stays between 2.00 - 2.50) also a bit stronger.
6) The current seasonal "pattern" favors buyers. It means that the end of the year has been pretty profitable for Aurora and the last upwards rally started about a year ago also in December.
Target is up to you but the strongest resistance level stays around the 5.00 and if it reaches there from the current area then it will be 100%+ profit.
Do your own research and please, take a second and support my effort by hitting the "LIKE" button, it is my only FEE from You!
Best regards,
Vaido
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