NYSE: $ACB | #AuroraCannabis appears to still have SOME upside.NYSE: $ACB | #AuroraCannabis appears to still have SOME upside. The KEYWORD is some. I'd avoid the buy here & wait for the short opportunity. Toodles!
ACB
ACB update on the hourlyQuite the fight going on today in the MJ sector.
As expected we started the day bearish which was hinted premarket and injected with bearish news on the European growth outlook. Bulls however vigourously defended the low of the pullback and bought the gap down on serious volume. Bears did nog get much follow through on the pushback.
Most likely scenario is to consolidate on the hourly now to clearly establish the new higher low as with volatility of the past few days levels are not clear. If bulls manage to break high of the consolidation that will result in another leg up which will show how strong the bulls currently are. I expect a lower high to form first just below the last daily high. With a strong close, friday will be an interesting day and nervousness will be pushed to the shorts in this stock.
acb.toacb.to : possibility of expanding flat or flat structure for consolidation before mosr upside...needs this pullback to attract more bulls
ACB on the weekly timeframeAs I trade (with the trend) on the lower timeframes, here's a chart to back up my analysis on the weekly chart.
ACB to start next impulse waveMy sentiment on ACB is currently bullish, based on the following:
- EMA 50/200 cross down on the daily december 20th 2018 marked loss of the daily uptrend and start of weekly consolidation
- EMA 5/20 cross up on the weekly formed yesterday with strong close and after hours action
- EMA 50/200 cross up for ACB is very close on the daily, signalling end of consolidation (not shown on this graph, check the ACB weekly EMA cross 50/200
- Cup handle break-out pattern completed
- Volume surge of 64M + 3M after hours; which equals 2 times the average 3 monthly volume
- Good upside potential, acceptable downside risk
- Bounce of on 0,618 Fib retracement. Long term uptrend intact, ACB is in a strong uptrend on all lower timeframes (2H/4H/daily)
- Sector momentum
Most likely scenario:
- Be wary of profit taking; use protective stops!
- Form Lower high compared to october 2018 top; estimate 9,5/10 USD depending on follow through
- Retrace to higher low; estimate 6,4 USD range
- Bounce and move on rising bottom support to horizontal resitance on previous highs; break to new all time highs
This may take some time to play out on the longer timeframe. This is not investing advice, just my vision of how this may evolve. Always do your own research, don't but off random tips on the internet!
Peace, all comments are appreciated!
Climax Top. Entry 1/4 Position TomorrowMarket Cap
2.86B
Enterprise Value
1.94B
Price/Sales
484.27
I think it is getting a little too far ahead of itself at this point. The Cramer pump is suspicious, especially considering the timing.
The reason I'm only adding 1/4th is because the momentum is still strong, and it could rally up to $20.00.
AURORA ACB - Repeating wave structure. Back to Highs in AprilAurora ACB is continuing within a 5 wave Elliot structure, repeating its performance from August to October 18 highs. We are currently in Wave 2 down to the .618 Fib level, before continuing the rally in wave 3. Indicators are as well showing the same signals as in the previous rally (pink circles).
Buy levels around 5.60-5.80 USD
ACB Cup and HandleThere is a possible cup and handle showing up in ACB. Watch for a small consolidation period before a larger push to the upside.
Weed - Hit .618 Fib level, pull back on 4 hour chart to $55Weed - Hit .618 Fib level, pull back for higher low. Look for back test $54.62 on 4 hour chart as support. RSI overbought, good news about hemp facility in NY. I will wait for support level to buy more shares. Picked up some TGOD for long hold last week at $2.99. Good luck!
AURORA CANNABIS INC. (ACB): A Formed Cup & Handle Find Winning Trades In Seconds >> efcindicator.com (Special Discount)
AURORA CANNABIS INC. (ACB): A Formed Cup & Handle Preceding New Impulses Waves? It seems so.
$weed looking for pull back on daily chart , RSI OB, Fib level$weed looking for pull back on daily chart , RSI OB, Fib level closed right around .382 level or $50.80. Looking for consolidation and higher low, volume is not bullish and $spy is hitting resistance at $259. Tech Earnings next will set market direction. *own canopy shares, $nbev calls and bought $pyx feb calls friday. Shortdata.ca for short interest information. Good luck, happy trading!
acbacb - will add more over 9 or sell calls... then add to leap call options around 5-.50- 6.00 - 7.00 -7.50 levels not to go agressive because this could still do a leg down...structure seems to be a flat 3-3-5
ACB Parabolic Extension Long TermCouldn't help but document my thoughts. Everything about this setup is screaming that there is a much larger wave wave to come, 7-10X from recent lows. It may bounce up and down through next couple earnings announcements, however give them 6-12 months and I believe they are going to be reporting enormous growth. Hopefully shares do not get too diluted as they build their empire. Seen a video with CEO stating they may be able to finance entire plants with proceeds of one of its harvests. Upcoming catalysis can include various state legislation, particularly on the east coast of USA. So long as this thing does not breach ~$4.80-4.90 I am bullish and believe this projection will return success.
CGC pattern Crazy when you can see the bullish flag before you even draw one Friday was the buy day. Let’s see how this pays out for the short term
ACB watching for potential of daily lower high being setACB enjoyed a nice oversold bounce the past two days, now we're watching the high and low of Friday to break to signal consolidation or continuation.
ACB loses key weekly levelACB had a clear bear break today, and there is a lot of space before next supports are encountered. Bears are in full control
ACB testing key support first thing; lack of support if breaksACB has a key test of support first thing tomorrow, and there's a lack of support near by should the chart see a bear break
ACB - Looking at the bigger PictureDear Traders,
This TA is strictly meant for swing traders.
Looking at the weekly chart of ACB, we can see that the bears are in control. Price action is very close to a critical point in my opinion.
If the bulls fail to support at the 100 moving average located at 5.22$, we could see a drop to the next support located at 4.07$, and if that one doesn't hold, then we could see a huge drop back around 2.65$.
In my opinion, the hype around Aurora is over, there might be some serious selling if they don't release some good news. With the negative vibe hanging in Canada about shortages...
If the bulls manage to run up above 7.41$ then we could see a whole different scenario.
Let's see what will happen the next weeks.
Keep your eyes on the charts!
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Take care!
