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Acblong

"Aurora Cannabis: Short-Term Bearish, Eyes Massive Bull Run"Analyzing Aurora Cannabis Stock: Tight Compression Forms Massive Falling Wedge Aurora Cannabis stock, a prominent player in the cannabis industry, is drawing attention from investors as it undergoes a significant chart pattern characterized by a tight compression formation from a six-year retracement, resulting in a massive falling wedge. Despite recent attempts by bulls to break out, the stock faced rejection at $1 and is currently breaching short-term support levels. While we advocate for long-term accumulation, short-term projections suggest a potential shed of 10 cents per share, presenting an absolute buy opportunity. Let's delve deeper into what Aurora Cannabis stock represents and its current market dynamics. Understanding Aurora Cannabis Stock Aurora Cannabis is a Canadian cannabis company that specializes in the production and distribution of medical and recreational cannabis products. With a focus on innovation, quality, and sustainability, Aurora Cannabis has established itself as a leading player in the burgeoning cannabis industry, catering to a diverse range of consumers and markets. The Tight Compression Formation The tight compression formation observed in Aurora Cannabis stock is indicative of a period of consolidation and indecision among market participants. This compression has formed over a six-year retracement, culminating in the creation of a massive falling wedge pattern. Falling wedges are bullish reversal patterns characterized by contracting price ranges and declining volume, typically signaling a potential breakout to the upside. Recent Breakout Attempts and Short-Term Outlook Despite recent efforts by bulls to break out of the falling wedge pattern, Aurora Cannabis stock faced rejection at the $1 level, highlighting the presence of strong resistance. The failure to sustain momentum has resulted in the breach of short-term support levels, indicating a period of uncertainty and potential downside pressure in the near term. Accumulation Opportunity While short-term projections suggest a potential shed of 10 cents per share, we believe that Aurora Cannabis stock presents an attractive long-term accumulation opportunity. The fundamental strengths of the company, coupled with the growth potential of the cannabis industry, position Aurora Cannabis for success in the years to come. As such, investors may consider utilizing the short-term downside as an opportunity to accumulate shares at favorable prices. Conclusion: Navigating Aurora Cannabis Stock In conclusion, Aurora Cannabis stock is undergoing a significant chart pattern characterized by a tight compression formation and a massive falling wedge. While recent breakout attempts were met with resistance at $1, the breach of short-term support levels suggests potential downside in the near term. However, we view this as an opportunity for long-term accumulation, as the fundamental strengths of Aurora Cannabis and the growth prospects of the cannabis industry remain intact. Investors should exercise caution and consider their risk tolerance when navigating the short-term volatility of Aurora Cannabis stock.
NASDAQ:ACBLong
by UnknownUnicorn2319099
3
ACB Aurora Cannabis Long SetupOn the 4H chart ACB has dropped out of a head and shoulders pattern list winter with high volume into a downtrend with lower volume now into support / demand as shown by the Luxalgo indicator. The anchored VWAP is also trending downward with support at the minus 1 and minus 2 standard deviations. The volume profile shows the majority of the recent share exchanges have been at the $0.65 per share area. If price rises above that POC line of the profile, ACB will get the attention of new buyers while short sellers will begin to cover thus causing buying pressure and momentum. I will buy a sizeable quantity for perhaps $1-2K shares once price gets over that POC line. Prospective buyers will consider this to be a reversal confirmation. I will be one of them. The first target is the volume void at $0.79 or about 25% with the other target being one standard deviation above VWAP at about $.90. Stop loss will be set at $0.05 below the entry. For profit insurance I will hedge with a single put option contract at a strike of $0.70 with a 90-120 DTE to diminish risk at a minimal cost.
NASDAQ:ACBLong
by AwesomeAvani
ACB potential wave 3 up?Elliott wave counts can be very subjective with some people's counts being completely different. I have two potential counts set up for ACB. My count I'm leaning more towards is the GREEN count. Following the Green EW count, we see the price come just about to the pink weekly resistance line. In EW theory, wave 3 is the strongest move and known for the "gap up" movements. These gap ups generally occur to break through a resistance line. This makes since and would follow that the pice movement up to weekly resistance would be wave 1 and we are currently in a wave 2 pull back, potentially setting up for a nice wave 3 movement up to break through the weekly bearish resistance line. The green wave 3 projection coincides very well with the weekly Supply zone, potentially indicating where a pull back could occur for green wave 4. As I said, there are always different counts; or "Alt Counts." The yellow count is just that and also has supporting indications. In favor of the yellow count is the potential of a back to back .618 retraces, which a lot of EW traders like to find and make decisions of entry points from. We can see a yellow wave 2 retrace to .618, meaning we are in yellow wave 3. There has to be 5 waves to make up yellow wave 3, which, this pullback could indicate we are in a smaller degree wave 2 retrace that is just hovering above a .618 retrace that comprises the overall yellow wave 3 movement. End of day, if going off these counts, both support a movement upward in my opinion.
NASDAQ:ACBLong
by PT_Marche
ACB: 1 Week Analysis Hints at Strong Upside PotentialHello All. Aurora Cannabis is starting to catch eyes of many. After a major year in 2017, ACB has had a rough last couple years with the price falling as much as -97%. The charts are showing the blood is behind us and blue skies ahead for the cannabis industry in the upcoming years. With the recent election of Joe Biden, the house and senate are now both democrat. They have the ability to easily push through any bill decriminalizing cannabis. With more decriminalizations throughout the USA. This is a positive push for cannabis stocks all around. More legalizations, more users, more profits for companies like ACB and TLRY. In addition, the supply of cannabis products has been declining the last few years. Higher demand means higher supply is needed. If higher supply is needed, production is going to have to ramp up. Now on to the technical side. Just by looking at the last 2 years, we can see by using candlestick analysis, the price action has been curving around forming an obvious bottom. In the recent months, ACB has came off its lows starting to revive back into its big volume/liquidity zone around $10-$20. The price action has been forming a bullish pennant since September of 2020. That bullish pennant has broken out and confirmed that breakout (retest) in the recent weeks. 12$ is a big resistance zone for ACB. The price is currently flirting with that level as some positive news was released today. Aurora announced an agreement with Great North Distributors Inc. for Canadian retail sales execution. This creates less resistance for ACB to get their products to their consumers. Using the Fixed Volume Range Profile tool, we can see that the last BIG volume resistance zone is around the $20 price mark. Once that is cleared ACB share price can see a similar movement as we saw in 2017. This potential large price increase is due to the lack of volume & liquidity throughout the $22 to $50 price range. This also can be referred as a liquidity void. Lastly, looking at the relative strength index (RSI), we can conclude a multi year down trend has been cleared and held in the recent months. It is now stretching past the 50 zone which is an easy indication of a bullish or bearish trend. Thank you all ! Please share your thoughts below and like this post if it meets you well.
ALong
by traderview2
7
I'm Buying ACB @ $4.07 will Dollar Cost Average at lower pricesMy first buy was at $4.07, just a hunch we can see a reversal at this levels... I see a RSI bullish divergence at this level, but sincerely this is not about technical analysis... the price can go to $2.00 in the next weeks I will be buying what I consider next 3 support levels (DCA)* HIGH risk investment for the long term...(at least 1 year) but also HIGH reward Invest only what you are willing to lose... Wish me luck ! (See you in HELL...or in HEAVEN) * Dollar-cost averaging (DCA) is an investment strategy in which an investor divides up the total amount to be invested across periodic purchases of a target asset in an effort to reduce the impact of volatility on the overall purchase.
ALong
by renemtz
ACB Should Retrace and I'm UnhingedFirst off, please don't take anything I say seriously or as financial advice. As always, this is on opinion based basis. That being said, Aurora Cannabis is due for a breakout. They recently also acquired Reliva, which have many people either skeptical or bullish. The market is hitting resistance at the moment with many people shortening it and negative reactions to the recent events going on. However, ACB is trying to expand in the North American market, and the next cycling line pattern also seems like it should go on a positive correlation. My regret though, is I talked about this a bit before the dip so if I was remotely right, the profit turnover could have still been better. I think short term it has breakout potential, and this is a stable growth stock overall given how they have managed their financials when they are close to being ravaged.
ALong
by gamer456148
3
[ACB] Reliva News Blew Up My Plan, Gravity Still Heavy!Everything was right on track with ACB price marching steadily down as expected for a great buying opp pre-CGC earnings and then BOOM! Stock popped up from $12 to $17, I sold off another 20% chunk (again catching the top of a 2nd peak on this swing here (just couldn't resist banking more 3x profits on this swing) because the high industry gravity and ensuing market crash was almost sure to push prices back down (it has so far but holding stronger now). Already emptied 60% on the last spike about 3x ROI in two weeks so my ACB reserves are now on red with only 20% left. As much profit as I've banked here, I am worried that CGC earnings could turn around the whole industry and I'd rather not be caught with my pants down before these stocks really take off! Gonna suck it up and hedge my cannabis bets buying them a bit overpriced if needed (but hoping they crash back some next week along with market). After CGC though we got a big window before the next earnings we need to worry about so hopefully after another nice swing, prices will continue their downward march and we can really load up big before Q2 (overall Q2 earnings will be bad but cannabis stocks should outperform here). Good luck navigating these wild times!
ALong
by ProfitHarvest
AURORA CANNABIS INC (ACB) DailyDates in the future with the greatest probability for a price high or price low. The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will miss its prediction date by one candlestick. If multiple Djinn prediction dates are missed and are plowed through by same color Henikin Ashi candles the asset is being "reset". The "reset" is complete when Henikin Ashi candles are back in sync with Djinn price high or low prediction dates. One way the Djinn Indicator is used to enter and exit trades: For best results trade in the direction of the trend. The Linear Regression channel is used to determine trend direction. The Linear Regression is set at 2 -2 30. When a green Henikin Ashi candle intersects with the linear regression upper deviation line (green line) and both indicators intersect with a Djinn prediction date a sell is triggered. When a red Henikin Ashi candle intersects with the linear regression lower deviation line (red line) and both indicators intersect with a Djinn prediction date a buy is triggered. This trading strategy works on daily, weekly and Monthly Djinn Predictive charts. This is not trading advice. Trade at your own risk.
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by Dinjin
AURORA CANNABIS INC ACB LONG SET UPBUY AT 0.77 & 0.64 SL 0.26 TP.1 $1.40 TP.2 $2.64 Tp.3 $4.20 TP.4 $6.40 When most people think of marijuana stocks, the last thing they think of is dividends. The legal marijuana industry is still very young, and new companies in growing industries need money to expand. Furthermore, U.S. investors in the marijuana space tend to currently focus on a handful of Canadian companies that have enjoyed the opportunity to list on U.S. exchanges.
ALong
by MavRich_Trading
Rolling Up The Cannabis LoudPack Aye?Symbol: ACB Cannabis stock analysis, want to see this one play out. Correlate it with the last etf I just shared for cannabis sector health. Hope this helps. Enjoy. 🤠 ---------------------------------------------------- Want to level up your trading skills? We just realesed our new course! Follow our tradingview page and visit the link in our bio if you are looking for new strategy to add to your arsenal. Also checkout our trading indicator available in the link on our page. --------------------------------------------------- Thank you for your continued support, God bless. - Major League Trader
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by UnknownUnicorn2319099
7