Breakout Long Idea on $ACBFF - Aurora Cannabis Inc
Updated
ACBFF has a good setup for a long idea on a breakout. The stock is extended but with Marijuana being so hot right now the momentum alone can make this a nice trade.
This stock is actually the U.S. version of Canada's ACB:CN. What I like for the trade's potential is marijuana is legal in Canada which gives people confidence that these Canadian based stocks can really run with limited headwinds. ACBFF showed up today on my 'Darvas Breakout Scanner' and I currently have an alert, on my thinkorswim, setup at $11.80 which will likely trigger tomorrow.
Entry: Above $11.83
Stop: $10.85
Target 1: $15.79 Risk:Reward 3.99
Target 2: $16.80 Risk:Reward 5.01
This stock is actually the U.S. version of Canada's ACB:CN. What I like for the trade's potential is marijuana is legal in Canada which gives people confidence that these Canadian based stocks can really run with limited headwinds. ACBFF showed up today on my 'Darvas Breakout Scanner' and I currently have an alert, on my thinkorswim, setup at $11.80 which will likely trigger tomorrow.
Entry: Above $11.83
Stop: $10.85
Target 1: $15.79 Risk:Reward 3.99
Target 2: $16.80 Risk:Reward 5.01
Trade active
BoughtTrade closed: stop reached
Stopped out
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