Aurora Cannabis - What Now ?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.
