ACB trade ideas
ACB LONG. BUY NOWNow is the time to buy!
This stock might come down and test $7.00 again but it's not going to hurt to get in ASAP. Aurorra keeps acquiring key positions to insure they are the dominate player in the game pending Canadian Legalization. They just Appointed KCSA a leading communications Firm in New York to help build US relations.
Aurorra will be a world Leader in this sector. Between medical and rec this will be a $150 Billion industry in north America alone buy 2021
The bull is back Descending triangle pattern formed and broke out. As you can see the chart you can see that the volume add confirmation to the breakout as well the gap up from 18th to 22nd of May. A lot of people are looking for entry since the third and final vote on the bill to pass will be held on June 7th,2018. According to Peter Harder the senate never rejected a bill on the second reading. If the bill passes ACB will reach a possible new high by legalization.
Guru Isnarain Analysis for Aurora Cannabis Inc. BULLISHOut team has formulated data gathered to determine an extreme bullish short term reversal in SP followed by a moderate bullish Continuation in SP for the medium term. Price Projections for next week are range bound from resistance and support levels, historical data, 52 point indicators, trailing MVA, analytical Data relative to time of resistance/support, etc... We do not see a bearish continuation of SP , as the MJ sector is rebounding with a strong bullish reaction. Comparable to its peers, we do believe Aurora Cannabis will be the winner next week in regards to overall gains, regardless of investor sentiment r/t acquisition. Moreover, I do apologize for the poor drawing (I'm not an artist, I'm an Analyst) we do anticipate the Sp to be range bound from a low of 8.26 $ ps to 9.55$ ps for next week. Share price will be dependent on investor sentiment, news releases and price points obtained, particularly if the price points of 8.30 or 9.20 are reached, these will determine strength of bullish reversal. Our team has determined there is a very low probability of less 10% for a continued bearish trend within the MJ index and ACB .TO for the medium term. We have determined that ACB .T will see the strongest short term gains among the Top 5 producers this coming week. Our team do own shares in the MJ sector. Our position in ACB is small comparable to its peers. Subsequently, we do believe there is an misunderstanding and worry of share dilution with the acquisition of Med leaf. So to brief you on why we believe next week will be extremely bullish 1.) We believe there was an over reaction and subsequent sell off of ACB. 2.) Weeds SP has gained 50% on its SP from April 10th ; ACB (2/3 Market Cap relative to Leaf) has gained 17%; med leaf (1/3 Market Cap relative to ACB ) has gained 62% SP: Average among the two = 26% percent Gains in the same time frame. We believe ACB has short term gain potential greater than 24% current SP or 9.82$ ps and is inline with Market share for MJ space. Similarly to Canopy Growth Co's past acquisitions, which is proven to be very bullish for investors, even if investors believe it to be negative. If Industry Sector continues the bullish run, which we anticipate, ACB will likely hit 11.50$ ps by June 1st. We do not have any charts formulated for a bearish downturn, as data gathered indicates a bullish recovery.
Time for action on Aurora!The Bollinger bands are very tight on ACB right now and we have been building a slope for some time now. ACB already tried to break out once but faced high selling volume. I really do believe this will be an easy trade though. I marked out the following Fib levels as targets. Depending on speed, I think we can see 11 USD again soon. The red line is for refill. Below that is absolute stop.
15 RSI is the magic NumnberThis stock still has some blood to give. However keep an eye on the Hourly RSI. If it drops quickly it should kick in around 7.35. If it trades sideways and slow bleeds It should be an automatic buy at 7.00. This will be brief though you should get a nice 5% - 10% bounce but then look to get out again.
ACB could make a move up early next week ACB tested the $8.20 range all last week, and like a lot of the cannabis sector is forming a small ascending triangle. Upward momentum is slowly increasing.
If volume is good it could make a move towards the 38 Fib, but probably not quite make it, early next week--around the $8.70 range. If this move up does happen I believe it will hold support above the 23 Fib, or ideally, the 38 Fib. Approaching the bill C-45 vote in late May or Early June, this could be the ideal time to get ACB at a good price.
Any good news could change everything though.
Buy and sell the Waves I expect ACB to move with the market, when its up we should move towards 8.30 where we have now rejected twice. When its down it should move towards the low of 7.70. AI have noticed the SPY will give you a good 10 mins heads up to get in or out of a trade. When you see the SPY dump get out, when you see a big Green buy. I was also able to get out of an APH trade at 10.05 before it tanked and also buy ACB for a nice ride as well from 7.80. Keep this in mind while trading. I expect a few more RED days as it appears the SPY has a date with the 200 day MA at 261
Looking to move!If we can get some decent volume back into the sector you can expect this one to move. 7.95 and 8.00 will be tough to break but the next resistance is around 8.25 followed by 8.50. After that it can run back into the 9 and 10.00 range. Markets closed strong. MJ sector closed strong. ACB had a good 3 afternoon with its last 3 candles all closing at the high of the hour and an ok buy to finish on the 5 min chart. Like the others this should start strong but we will see how the markets in general react.
I have been told that It is expected to list on the NASDAQ this qtr.
I would buy here however this one also has a little more risk. Its floor appears to be down at 7.65.
With all weed stocks I expect a good open and then we will trend with the overall market. This could be a good time with some big players releasing their financials in other sectors.
Bought a Close after a Strong SPY closeSince we are at the Mercy of the market and are delayed a bit behind the SPY. I expect a nice strong open tomorrow morning. Spy went on a heater the last 5 mins and had a big 60 cent buy. We closed right on a support as well as the bottom of the channel we have been following. As I see it we should see a gap up and start to make our ascent upwards. If this happens our worst case scenario should see at least a 25% recovery tomorrow from the previous drop. That would put us around 8.12. However I believe the next potential stop is the 100 hour MA at 8.25 followed by the top of our channel at 8.40.
Worst case scenario is we drop at open. Look for it to bounce somewhere in the 7.70 range. As is it looks like we have a bottom however here. I am not too worried about a stop loss. I would set it for a break of 7.60.
Downtrend to continueI expect ACB to continue down tomorrow. It made a good push this afternoon but the bears beat it back down. Like APH I believe this stock will move with the bigger markets. The big move late in the day happened when the SPY was bought from 261-263. The Spy is trading sideways right now but could change for the better or worse. Overall the pressure on the SPY is down due to high bond yields sucking money from the market, fed inflation and tech stocks performing poorly. I think it has a date with 260.00.
ACB has Good support at 8.15 and Very strong support at 7.95 I would consider buying here however with a quick stop, if we lose that its a big drop to 7.37 and 6.90
Big Support here at 8.00Big support here at $8.00. I dont think we hold it off the bat but I expect us to retake it later in the day. Ideally I would be looking to buy back at 7.70 for a low risk play of about 10 cents or if we drop a bit more. 7.20 should be the final stop. We closed with a fair amount of bear volume so dont look to jump at the bell. let this one play out a bit and find a bottom first.
Still in the drivers seat.First four hours seen us lose 25 cents second 4 hours seen us gain it all back. ACB still looking strong and look for it to continue the trend up. Bears did their best but could not manage to beat this stock down. I am still in here and have been since 8.50. Tomorrow anything below 8.60 is a buy and I believe we make a run at 9.00 or maybe even 9.25. Absolute bottom is 8.48. A stop of 8.40 would be a safe call.
Big bull move last 5 mins. 9 is in sight. ACB seen a double than average bull spike in the last 5 mins. Should bode well for the future. 8.73 is our last major resistance before we run into the 9's. I think we take it at open and run from there. Ive been holding since 8.40 and will dump around 9.05 if it looks like we wont stick there. I love ACB though so I would be looking to buy back in around 8.70 on a retest. Once we break 9.30 this baby will run. 10.00 is the psychological and then you have nice 50 cent gaps between support and resistance all the way up to 11.25.
Morning looks strong. The day should be Green again.
8.36 First support and final stop 8.10We should see ACB continue down to start the morning. We have the 100 hour MA at 8.36 that may hold as it has held a few times in the past. I would be looking for this to test and retest before buying back in here though. The final stop where a ton of support has built up is between 8.05- 8.10. I would go for a bottom fishing play and buy here and set a stop for 7.95. The recovery should happen here. If not it means the whole sector is in trouble
ACB Stay long - Consolidation normalDepending on any news events, we might go into consolidation or some slight pull back. Longer term bulls should not be worried. The Stay Long is still the indication. Low bid $8.42-$8.65 to catch stop loss attack. Consider stop loss below $8.38
Also Looking to Pull Back. Like APH very difficult to read today. These are the least confident calls ive made. However I believe I have a better read here as ACB likes to travel in nice waves. The yellow trend line is where I believe this stock will end up. Therefore I think we pull back and test somewhere between 8.60 to 8.75. A strong open could reverse that. A break and hold of 9.30 and 10.00 is easily in the cards. I am all cash and waiting for the morning to give me an idea on where this stock is headed. Over all it is still an uptrend however we are due for some consolidation. ACB in that regard I believe will be the least affected.
Gap Up with some room to RunACB is looking good. I am expecting a morning gap up followed by a nice run to about 9.50 where things should bounce. The new support should come in just under 9$ after this. I am already in CRON for the morning but I will be looking to play ACB if it retests 9.00. After 9.50 we should run to 10.00 with maybe a bit of interference at the 200 hour MA at 9.75. The weekly Candle shows a nice green candle with a very long tail telling us that the bulls are back in control. I would be long on ACB for this week but have a reminder set for the 92 RSI range. 92 RSI like APH at 88 has seen 20%+ dips with the last one being in January where we hit the ATH of 15 and dropped down below 9. A 40% dip.
We should see a nice news boost later int he week and next Monday with 4/20 on Friday.
ALERT: ACB breaking out bullish from bounce!On this stock, stay long on bullrun and go sidelines on bear raids. It's a heavily traded stock with great price swings. The technical bounce predicted on April 9th for the 10th occurred and was then supported by bullish news from the Whitehouse supporting States like Colorado and Washington with recreational marijuana on April 13th. Bears should look at past chart action to understand this is not a good time to be short on this high volatility stock. To fuel the bull run on Aurora, the recent acquisition of CanniMed provides it with a lot of bragging rights including 72,000 litres of cannabis oil for both medical and recreational use as well as revenues in the $1.5B per year or more. The acquisition appears to have come in much lower than the January 2018 news releases. To add to bragging rights, Aurora has secured sponsorship rights to the famous Canadian 420 Celebration held each year in large and small cities around the country. It's held April 20th of each year. This year's celebration will be a day long affair Canada-wide. If you want evidence these stock run up on hype, watch what happens this week and into next week. Perfect trading opportunity.
On the just charts level, we have lots of runway to go and test the next serious resistance of $9.84. Given all the pending news and exposure with this sector and particular stock, don't be surprised we blow right through all the resistance into the $10s.
All traders need to remember this is a highly speculative and volatile sector. Charts provides the trends but cannot predict stock prices.
Please perform your own analysis and feel free to comment on mine. I'm a student of the markets and my quest is to learn each and every single day. Don't fall in love with your position, don't overtrade and take as many valid inputs for your trades as you can.
ACB - Very mixed signals but due for a bounce Not the type of charts that shows a lot of confidence either way. This stock rebounds from oversold but the selling might continue for a few sessions and might continue in its intensity. Creating and even more pronounced bounce. Numerous sequential bearish articles on this stock has helped it reached these levels. Insider buying has yet to have any positive impact on market sentiment. Very strong support in the low $7 as a base for the technical bounce.
1-Month Low $7.30
14 Day RSI at 30% $7.24
13-Week Low $7.11
Pivot Point 1st Support Point $7.10
38.2% Retracement From 52 Week Low $6.98
Pivot Point 2nd Support Point $6.81
Highly speculative but extremely rewarding when traded at the right time.
Should break tomorrow. Up HopefullyOpposite of APH the 100 MA on the 30 min chart was boosting us. However that is slowly moving further and further away. There is very strong support at 7.95 and then 7.85. If we ever hit 7.85 again I would be throwing my entire bank roll at it for a bottom fishing play. The resistance here is between 8.15 and 8.20. The channel is extremely tight and is setting it up for a big impulse move. I will be glued to this for what direction it finally breaks but overall its as if the last two days didn't happen. Two big Doji candles on the daily. It is my belief that we are waiting for WEED to finally break and hold 28.50 and finally breaking 29.00. If I see that Ill snatch up ACB as it will go along for the ride at a much cheaper Share Price.
Do or DIe... Potential Big WinnerACB closed right on a very large support. The 100 30 min MA that has been rejecting all WEED stocks is literally right on top of it. The slightest move up and we could run. A break of 8.20 would also send us straight to 8.50. A break of this could see $9.00. I think this is all contingent on WEED breaking that 28.50 barrier. I say this because when WEED broke 27.50 we ran. Everytime WEED broke 28.00 we shot up again. I am going to be watching this first thing and if we do break and hold 8.20 I will be moving my money from CRON here.
If we lose the battle we should bounce around 7.80 or 7.65.
