Aurora - Technical Analysis
Updated
Dear Traders,
Looks like we enterred a second ''bearish'' tunnel, but if we succeed in breaking out of it like we did the first time we might see another run soon. But if we break downwards we will officially retracing towards the 0.5 fib level again, which held twice already so that looks like a good entry point for those who want to re-enter this trade, but this will only happen if we break downwards of this channel.
About Aurora:
Aurora Cannabis Inc is a Canada-based company engaged in the production and distribution of medical cannabis. The Company is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis and hemp production, derivatives, home cultivation, wholesale and retail distribution. The Company's purpose-built facilities, which integrate technologies across all processes, are defined by automation and customization. The Company has a funded capacity of more than 500,000 kilograms per year, as well as sales and operations in more than 18 countries worldwide.
Looks like we enterred a second ''bearish'' tunnel, but if we succeed in breaking out of it like we did the first time we might see another run soon. But if we break downwards we will officially retracing towards the 0.5 fib level again, which held twice already so that looks like a good entry point for those who want to re-enter this trade, but this will only happen if we break downwards of this channel.
About Aurora:
Aurora Cannabis Inc is a Canada-based company engaged in the production and distribution of medical cannabis. The Company is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis and hemp production, derivatives, home cultivation, wholesale and retail distribution. The Company's purpose-built facilities, which integrate technologies across all processes, are defined by automation and customization. The Company has a funded capacity of more than 500,000 kilograms per year, as well as sales and operations in more than 18 countries worldwide.
Note
Second outbreak failed, let's see how those ema's will play. My bet? we will see a third attempt to break out before the close.Note
And there it is. The third breakout attempt with success! If we break above 12.58 we will see a run, the question now is, will we have another lower high after this run? which means it will be a small run or are we going to see a new higher high after the retracement we had this week?Trade closed: target reached
Aurora is ready for a run.Note
A breakout above 12.70$ would be the best scenario here, let's see how it plays offNote
ACB will try to create a higher high today., it might just go back to the 11.73$ level (0.50 Fib) and then bounce back off, if it does follow this scenario, an entry at that 0.5 fib level would be perfect, don't forget your stoploss tho.Note
Aurora announced they are going to get listed on NASDAQ !!! Are you ready for the run on Monday !ACB owns 21% of TGOD, so TGOD will benefit form this as well, both are great stocks to get a good amount of gains !
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