Aurora Cannabis - What Now ?
Updated
Dear Traders,
Yesterday was a pretty weird day for ACB, we expected a run, we got one, but it wasn't as powerful as we hopped. I new All Time High (ATH) got created tho, but the question is, is there more to come
Reviewing the Chart I decided to trace some lines to see where wee are at. As we all can see Our RSI is still above 50 but for how long ? Our MACD isn't ready to cross upwards yet so this makes me feel like this price is going down more. Towards the 55 ema (blue line).
If the bulls manage to open with a nice bump it would do some good to this chart, but if we open with a downtrend, that 55 ema is imminent. I personally enterred a position yesterday hoping the bulls would create a run-up last minute but that didn't happen and my stoploss is set but not hit yet. Let's see how this plays-off today!
If the 55 ema get's hit, do make sure to look at what the MACD is doing and where the RSI is at before making an entry.
We are now inside a bearish channel and the only way the price will go up is if the bulls manage to breakout of it.
For now i'm Neutral regarding Aurora but with some luck and some good volume, we could see something good coming out of this, but that ain't certain at all.
My opinion? stay out until further notice.
Yesterday was a pretty weird day for ACB, we expected a run, we got one, but it wasn't as powerful as we hopped. I new All Time High (ATH) got created tho, but the question is, is there more to come
Reviewing the Chart I decided to trace some lines to see where wee are at. As we all can see Our RSI is still above 50 but for how long ? Our MACD isn't ready to cross upwards yet so this makes me feel like this price is going down more. Towards the 55 ema (blue line).
If the bulls manage to open with a nice bump it would do some good to this chart, but if we open with a downtrend, that 55 ema is imminent. I personally enterred a position yesterday hoping the bulls would create a run-up last minute but that didn't happen and my stoploss is set but not hit yet. Let's see how this plays-off today!
If the 55 ema get's hit, do make sure to look at what the MACD is doing and where the RSI is at before making an entry.
We are now inside a bearish channel and the only way the price will go up is if the bulls manage to breakout of it.
For now i'm Neutral regarding Aurora but with some luck and some good volume, we could see something good coming out of this, but that ain't certain at all.
My opinion? stay out until further notice.
Note
ACB hit our support line, and bounced off.NowACB needs to close above the 55 ema to be bullish, if that doesn't happen, and our support line gets crossed, we will be bearish.
Note
Resistance Line 1 Breached. Price will drop towards 12.70$ and then bounce up ? Keep your eyes on the charts!Note
ACB followed my red support line perfectly, crazy how those lines work out great most of the times. This means bulls took back control and we are now heading for a new higher high ? who knows.Note
ACB rocking it !
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