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Aurora Cannabis Inc.Aurora Cannabis Inc.Aurora Cannabis Inc.

Aurora Cannabis Inc.

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ACB trade ideas

Have we finally busted out of the downward Channel?Morning will Tell. In my opinion yes. Weed and the others should drag ACB out. I drew the white and Yellow Lines back in mid March and they have held up until now. ACB did drop back down just inside the channel but a great open should turn that yellow line into resistance. I wouldnt buy this one until that is confirmed. You are looking for a break of 8 and a retest there. I will be looking to buy on the second touch of 8. Looking at the daily between 8.15 and 8.20 we should see some resistance followed by 8.50 and 9.00. I think this is still the weakest of the Big 4 right now and there are better choices. A break and hold of 8 should see a nice green day if we cant bust through or lose 8 expect it to sink.
TSX:ACB
by dburke44
Make or Break for ACBDidnt like how ACB closed weaker than the other 2. However it is normally the laggard of the bunch lately. If the other 2 rocket they should pull ACB with it and it could once again be the steal. I can see 7.39 holding nicely as you have 14 supports some dating back as early as the start of Dec, However if it doesn't you will see this hit that 200 day MA at $6.21. Boom or bust here with a good chance at a reward. If you are looking to buy set your stop at 7.25 and hope for the best. I will be playing the bounce but I wont be holding for more than a day at a time.
TSX:ACB
by dburke44
Weekend Weed StocksLooking at the Charts ACB and APH are in much worse Shape than WEED and Chron. WEED lost both its 50W and 100 day MA though. You are going to want to see it break 28 again and hold on the daily. You could see WEED and Cron Recover and APH and ACB and APH fall. TBH i wont trade until i get a clear signal Monday. Overall sentiment is down but SPY seems to be holding. We held up well Friday vs the declining SPY but we could be playing catchup Monday Morning. ACB (200 day support 6.25) APH (support $10.00) WEED Expect a battle between 27 and 28. Winner will send it back to 30 or down to 25 CRON Sitting on support from Tuesday. Could see it retest 7 however I feel like it might be the strongest. SPY looking ok right now and Monday morning will tell the tale if we need to still play catchup on Friday's late dump or if we are going to head back up with it.
TSX:ACB
by dburke44
Tipped its hand with the SPYNailed it yesterday saying it was the laggard and will make up ground. I expect WEED to do the same tomorrow. This stock and APH are 100% following the SPY less an hour. I swear some algorithm from the bigs have set it to follow the SPY minus an hour to the T. Start on the 15 min chart on the SPY roll back to 12:30. Then look at this at 1:30 It goes Red, Red, Green, Dump Red x3, Recovery Green Red Green. Huge Push 2:30 to 3 (SPY) 3:30 to 4 ACB. I was able to catch this when I seen ACB tank and the SPY was taking off and made out huge. Closing Candle was very Strong I expect a Gap up open followed by a break of 11 and then a bit of a drop and consolidation. Keep an eye on how the SPY is doing and if you see it soaring and this tanking its time to buy the DIP! I expect Pushback at 8.70 but this should run to test the 100 day MA in the near future. It was quite the run however so after a Gap up expect it to come back down to set a new floor Most likely at where it opened.
TSX:ACBLong
by dburke44
Value area under 10.00I am watching the two forces bullish and bearish on this one. As you can see on the daily, we have very defined channel zones. Price is respecting these areas. The pot market is mostly bearish, with decent retracements aka bullish pullbacks (from bearish bias perspective). These are tradeable (I trade them as a counter-trend trade) and typically I see, 1.50 to 2.00 movements. A high probability tradeable pattern has emerged. Currently, I am watching for price to slip back to the 10.00 area of interest. In my opinion; ACB is no longer trading like a speculative market, but now as a supply and demand market. As we appear to have a great deal of supply, suppliers are reporting how they can easily meet supply targets. Prices are set by the government, and supply chains are now emerging. I am expecting/predicting prices to keep slipping until August. The days of 15% moves are gone, but we are seeing consistent days of 3% moves and over 3 or 4 days, that's an easy 9%-12% on a bullish week. I can live with that. I have also noted, that possibly we have some whales shorting this market. The other day I was watching order flow, I noticed some large buying orders in higher price areas, from a bearish perspective, this would be whales taking profit on the big shorts. A tip for risk management; Never trade with capital you cant afford to lose. Once you place a trade, assume it to be gone. If you can't live with that, then you shouldn't be trading with that much capital. Simple enough. This is not financial advice, but purely my opinion and shared thoughts.
TSX:ACBLong
by 4XRandalll
5
Aurora bounced off resistance, but faces heavy resistance.We can see that TSX:ACB just can't seem to keep volume or momentum. Although it had traced all the way back down to the .618 Fibonacci retrace, where it finally found some support and did a little bounce, but there is now heavy resistance it will have to face at 10.60. It is following the temporary downward trend line, indicated by the dotted green line, coming to a triangle where the upward trend line meets current support at ~9.57. We can confirm some new light support if the next couple candles close at somewhere around, or above 10.00.
TSX:ACB
by BTCanadian
Aurora didn't even get high and still needs support.Aurora didn't get as high as the other stocks, rather ending the last few days in the red. Forcing me to remove the previous support I was worried about, as well as the possible new upward trend line, replacing it with a dotted green temp downtrend line. It didn't recover well from that broken neck. There wasn't much of a shadow and the candle closed almost full red, indicating that we may still be headed in that direction. We will probably see 10.80 and possibly 10.50, as we closed below all three MACD's according to Bill Williams.
TSX:ACB
by BTCanadian
Going up soonThis stock will jump up in the coming weeks or two, as the RSI is always bouncing back and forth, and it has broken the resistance line so currently it will be going down but soon it will come back up. The RSI will jump up soon to indicate that the stock will head up, and the MAC will be touching soon showing that it will be going up. This is looking good for anyone that is interested in investing, Pay attention to the news relating to this stock since anything can happen.
TSX:ACBShort
by mohamaddude1
ACB HUGE BREAKOUT COMING (Aurora Cannabis)Inverse head and shoulders pattern has formed on the daily chart for ACB. It has tested a bottom three times and has been in tight consolidating patterns for the last 21 days -- the longest period of consolidation yet in the stock's history. Bollinger bands have tightened signaling a nearing breakout, with bear volume reducing and bull volume increasing, signaling an imminent breakout to the upside. Whether you check the weekly or the daily chart, the inverse head and shoulders pattern has completed and the stock is signaling a strong upwards movement. On the weekly chart we've formed higher highs three weeks in a row with increasing bull volume. Anticipate huge volume next week and a breakout.
TSX:ACBLong
by PicoPNL
2
Aurora's neck is broken. Indecision Volume.Sometimes breaking your neck isn't always a bad thing. After a fairly large consolidation after that inverse head and shoulders pattern, we can see from the 4h chart today, ACB is logically following suit with WEED , just cracking the neckline (indicated by the purple line) and waiting for that second confirmation above. The shadows of both candles just barely touched the resistance line at 12.00. The combination of these two factors means that we will probably see a hesitation, which generally happens after the neckline is broken with any sort of volume influx. Support was raised to ~10.60, stop loss is at 11.30, in case it decides to form a head and shoulders pattern and come back down to retest where the MACD's meet new support, but it is looking like we may close with indecision. Thank you for viewing my charts!
TSX:ACB
by BTCanadian
1
Looky what we have here.So, in the previous chart, I was thinking that it wasn't going to cross that line due to the volume and or buying power. Well, they have just acquired final approval for the acquisition of CanniMed earlier today. A combination of diluted asset and possible positive conviction I believe, has lead to an increase just above the trend line. This has allowed me to move the support line up to ~9.85 and is a step in the right direction, but even if we can get a second confirmation above the trend line, there isn't much play room before we need some bulls to break that resistance at 10.70. finance.yahoo.com Thank you for viewing my charts!
TSX:ACB
by BTCanadian
Can't do it Captain, she don't have the powah.As we can see it has broken below the previous support line and tested twice, confirming the new positioning of the line of resistance. I have also redrawn a slightly longer chart, with a bigger Fibonacci snapshot and new downward trend line that was squeezed down to meet the upward trend that we were previously starting to form. That line has also been taken back to a further re-test point, so it gives a clearer indication as to where it will most likely bounce off of for the re-test of 9.00. If for some reason it decides to straddle the 0.618 retrace for some reason, it will inherently smack off the newly created downward trend line, as there is not enough buying power to reverse any time soon. It will be interesting to see how well it holds up from then, until the time of legalization.
TSX:ACB
by BTCanadian
1