AURORA CANNABIS Buy Signal/ +700%/ $50 TargetPattern: Ascending Triangle on 1W.
Signal: Bullish as historically the break-out of the pattern results into a big rally.
Target: 50.00 (+700% rise).
21P trade ideas
ACB Short setupACB had a huge day pushing it up 10% on news of billionaire activist investor Nelson Peltz hired as an advisor. I don't think this news is enough to push it back to ATH like a major brand partnership would do. We are pushing into some major resistance on the weekly. Currently there is not enough hype in the mmj sector to push us back up to the ATH.
The TD Indicator is currently on a 10 count. Look at the TD indicator previously on the weekly and see how perfectly it topped on a 9 and bottomed on a 9. Volume has also been steadily declining.
The trade can be closed at the 100 week MA as it's been really strong support. Look at this area for longs as it's a very strong buying zone and ACB is still in an uptrend on higher time frames.
On the flip side if ACB can get above $12 and stay there with a clean s/r flip this trade will be invalidated and closed at a small loss. If this is the case we can open a new trade and go long to the $14 level.
ACB: More opportunity to add - Swing TradeLast week I mentioned the valid upwards channel in ACB. We saw that ACB bounced off the channel as expected but unfortunately could not break the top of the channel. This week we may see another buy opportunity similar to the last.
What to watch:
- Only enter if candle does not break the 4 hr upwards channel.
- Watch in the lower time frame, 30 mins - 1 hour for confirmation (at least 2 few candles) before entry.
- Be patient for all time high take profit! we will get there soon.
Trade at your own risk.
ACB Breakout forming Ascending triangle patternACB breakout is forming, Ascending triangle pattern
So far the marijuana market has been dragged down by the SPY with analyst upgrades on ACB it's pulling in a lot of investors.
If the SPY recovers from this point even for a brief period of time we may be heading back up to $13-14 levels.
ACB Hopefully looking for a lower high todayI really don't like that nasty candle that was set two days ago. Ended the day with an hourly bear flag. Followed up yesterday with a healthy pull back. Yesterday it bounced off of supports, and when volume decreased, otherwise down with the market. The close saw yet another bear flag on the hourly.
What will be today. Markets don't look promising. So far, no news on either ACB or cannabis industry in general. I'm preparing for more consolidation.
Will we see ACB try for a lower high, before continuing its way down? What are the levels to watch? What are your thoughts?
ACB decreasing bear volume on this pullbackWatching ACB hourly chart for a trend change to tell us the daily higher low is in, and given the % pullback we are likely looking for a lower high below our recent high of 11.26 on any bounce attempt.
ACB played out as anticipated todayToday played out as anticipated today with a quick push up and profit taking. The rest of the day saw sideways trading and an attempt of basing in search of a new support. Key hourly levels on watch are highlighted within.
Keep in mind the past 10 weeks have been an incredibly bullish market environment, which is perfect for MJ bull runs to thrive in. We've been seeing weakness for the past few days and if this weakness in the S&P500 continues, that will have downward pressure on the MJ sector as a whole. Never lose sight of what the overall market is doing!
ACB looking extended on the hourlyRSI looks to have room for another move up, compared to previous highs, but after a solid day with just bullish activity, perhaps it would be smart to take profits at the former resistance level, just below $11, before buying back in at any of the hourly supports?
Do share your plans, people.
ACB broke 2 key daily levels, looking to break a third tomorrowHUGE day for ACB but the hourly chart is very extended. No need for FOMO buying up at these levels,
Buy the dip, reap the rewardsACB has just touched a well tested resistance and will most likely go down and hit the support before breaking the wedge pattern and continue rising. It may hit the resistance again before it breaks the wedge pattern.
ACB Swing Trade - Upwards channel.- A lot of traders are looking for an entry point into weed stocks. ACB has a big potential for a big swing trade.
- Watch for a bounce off the bottom channel for a buy entry.
- Ichimoku cloud shows upside in the 1 week and 1 day time frame.
Trade at your own risk.
ACB Head & Shoulders about to completeI'm not an expert, but I would say that today is the last time ACB can bounce the US$7/CAD$9.35 support. If it does today, we'll have a complete head and shoulders pattern, which is a bearish signal.
We have key supports S1 at US$6.70/CAD$8.90 and S2 at US$5.84/CAD$7.80.
I just read an article about Senator Booker's support for US legalisation, and European bankers are increasingly interested in cannabis companies. Cannabis is legal is several key countries in the EU already. This is not much to go on, but perhaps enough for bulls to defend current supports.
ACB will be on watch today, I'm keen to see if supports will continue to hold, potentially moving the tightening equilibrium to the upper red bar, continuing this thriller for another few days. Alternatively, we may see a drop to S1 support, which I would see as a fantastic buying opportunity. I am considering placing a limit buy order there, just in case it touches. I am expecting a lot of bulls to get in at S1.
I'm looking for comments to aid me in my thinking. This is by no means financial advice.
ACB Hybrid AnalysisI get a lot of questions from new investors about Aurora Cannabis, mostly in response to media coverage about how share dilution has ruined the share price. I have to explain time and again, that the cannabis industry as a whole, has been making moves in anticipation of legalisation, farm bill, etc. If you look at ACB's wave of the past year or so, it becomes clear that ACB is extremely volatile. But if you compare the wave with other pot stocks, you get a clear confirmation that the highest peaks and the biggest drops were moves of the entire industry.
I figured to set up a little hybrid analysis, to chart out what news caused ACB to surge, and what caused ACB to tank. This way, it becomes very clear that news of all share acquisitions never brought the stock price down all that much, and in the long run only contributed to growth. It is the constant debate between pro and con politicians that have caused the biggest impulse waves and deepest drops.
I think this is a pretty decent, general overview of some of the most important moves of the past year. There are, of course, more events and announcements that have caused the stock to move, but overall, I don't think share dilution was any problem for ACB at all. We see all stocks deals all the time, and it is in reality, the only way to cannabis companies to make significant moves until more legalisation is realised. The fact is, most cannabis companies have diluted their stocks for the exact same reason. In the future, earnings can and will be used to buy back shares by most of these companies.
We have to consider the possibility that the booze lobby (Constellation) and cigarette lobby (Altria), that both have significant stakes in Aurora's biggest competitors, are trying to hindre ACB's growth to secure the success of their own investments. Therefore it is important to do your own research, and keep an open mind when you read Motley Fool news articles and (paid?) news items on SeekingAlpha. Currently, ACB is the only cannabis company with a potential for world domination, that still trades at under $10.
Personally, I am not worried that we may see ACB decline. To me, it would be a beautiful opportunity to buy more shares. Make no mistake: with markets rebound in 2019, we will see a positive EBITDA from ACB on the next earnings call. Production only continues to increase, as does its international footprint. If a major financial deal doesn't happen, Aurora will soon not need that anymore. I even doubt that they need this at this time. One way or another, ACB will succeed. How much of an upside do you see?
I am long ACB. This is not financial advice, it reflects my personal opinion with hopes to inspire yours. Please share your thoughts for my consideration. Debate is good for the friction of thought.
Bull flag on the hourly, daily chart on watch.ACB has seen three cup and handles in a row, and we're currently in the handle of the third cup. Studying the hourly chart, you'll see a clear bull flag pattern has formed. We'll be looking for a higher high, and I am expecting to see CAD$12 / US$9.20, mostly because the last high was at CAD$11 / US$8.34.
For this pattern to complete, bulls will have to hold supports at CAD$ 9.90 / US$ 7.50 and CAD$ 9.50 / US$ 7.20. Daily chart on watch, hoping for new momentum to trigger the next leg up...
ACB LongI think it is clear by now, that ACB is not spiking upward through an impulse wave. But similarities with last fall are striking in many ways. We can definitely tell that ACB's current moves are not impulsive at all. I would almost feel certain that its current path is sustainable, rather than impulsive.
The 50 and 200 EMA crossed over, the RSI is properly cool. We're all waiting anxiously for some great news, and we're more or less guaranteed such new in the short term. Whereas ACB's investments have dragged down its results due to the nosedive that markets took before Christmas last year, it is these same investments that are up, significantly, pending the next earnings call. That said, we still have one month to go before the quarter is closed, and much can happen in a single month.
Regardless, we see strong bull support, defending any bearish attempts. We may see a few more dips to old supports, but overall, this stock looks like Yellowstone, right before a cataclysmic eruption.
I'm have been buying the dip as much as I can muster. What are your plans?
ACB WEEKLY ANALYSISLooking at ACB at a macro point of view and I can see that we're forming an ascending triangle, which makes me very bullish. If we keep on making lower highs, we will being some nice moves on ACB.
ACB sees continuation from its bull breakACB bulls running hard with 13 hours candles in a row with a higher low - going to need to see a new hourly support established so this daily move can see possible continuation
Aurora upward trend to ATH?Not Trading Advises. only for learning. Appreciate feedback and criticism
I think Aurora is in a upward trend to its ATH price range based on the following:
• HH & LL
• RSI showing positive signals and positive momentum
• Volume increased
• Structure/Support at $9 Cad, not sure how strong the support is, and if the support is hold at $9, i interpret it as bulls have control over the stock and expect to see higher SP.
• Respecting 200 Ma, and trading over 50 Ma.
• By and large $ 175 millions Cad in revenue Q4/Q1 2019/2020, by and large $700 millions – $ 1.2 Billions Cad Revenue 2020. ( PE 10 on today's price ) and expected to grow in to a Billion dollar quarterly revenue company,
• Aurora is getting traction in the media. Buy rating.
• Cannabis market is getting more love every week, being talked about more and more, many times a week on Yahoo Finance, and Aurora is often mentioned.
• Higher marginal products coming online
Target: $12-$13.
If the price drop under $9 Cad, trade is not viable. ( my rule )
Disclosure: Aurora is my biggest holding, resp 30%. Planing to hold for life if the company continues to grow.
Not Trading Advises.
Aurora leg 5I think Aurora will do a wave 5 up. After the first report Aurora look like to have a strong future. And with pension founds and other institutional investor starting to pick up Aurora shares i think the SP will start to reflect it. I hope it will be a steady climb as it for me represent a shift in sentiment and a new type of buyer have come around.
Changed sentiment bull target: $14 cad
Trending range: $8,30-$9,30
Changed sentiment bear: < $8
Not trade advise. For traning
ACB daily range is very tightThere is not much opportunity within this daily range except a bottomfish of key daily supports. Lose those supports and we're looking for a weekly support above our last one in the $6 range
ACB - Preparing the Reversal? Let's see what the fuss is about!
Some interesting things are developing with ACB TSX:ACB so let's get into the meat and potatoes shall we?
Taking a look at the daily chart, First thing to take a look at is the rising channel show in blue and the serious of falling wedges (bullish indicators) shown in green. Here is my technical argument as to why i see a return to 10-12.50 in the next while. Since the January run we can see price action moving above the 50 EMA in very impressive fashion. Interestingly enough we looking to test the 50 EM once again and in addition you can see Fib. retracement level here at .62.....a very important place to hold. With slowing selling pressure and more buyers volume support (shown in red ovals), we are forming a very nice bullish consolidation pennant forming, with could results in a sharp reversal if price action doesn't drop below the 50 EMA.
My take away is to watch the RSI level carefully as we approach 40. If we levels rebound here, expect some major resistance as we move back towards the blue rising channel.
**Buying and Selling are solely your responsibility and cover all your bases....due your due diligence, never buy because ANYONE tells you to!**
Enjoy the weekend folks!
