ACB Stock Price: Aurora Cannabis Inc. looks flat around $16.00
|- ACB trades flat around the $16.00 mark in pre-market hours.
- US markets set to open with strong gains on risk-on mood.
Aurora Cannabis Inc. (ACB) is expected to open around Friday’s close in the $16.00 area on Tuesday despite the strong risk-on sentiment prevailing in the global markets.
The Canadian-based company traded within a tight range at the end of last week and still remains unable to extend the post-earnings rebound beyond the key $20.00 mark.
In fact, shares of the pot-company appear to have met a tough barrier at the $20.00 mark so far although some sort of a consolidative theme looks to be forming in the upper end of the recent range.
Looking at the broader picture, both the DowJones and the S&P500 are posting sharp gains ahead of the opening bell in Wall St and the return of the activity in US markets following Monday’s Memorial Day holiday.
Indeed, investors’ appetite for riskier assets increased on Tuesday after US biotech Novavax said it has started to test its COVID-19 vaccine candidate on humans, with results expected at some point in July. In the same line, world economies continue their gradual recovery, as affected countries keep easing lockdown restrictions.
Aurora Cannabis Stock Price
At the moment, ACB is retreating 0.06% at $16.00 and faces the initial support at $9.70 (55-day SMA) seconded by $5.30 (monthly low May 13) and then $4.07 (monthly low Aug.2016). On the upside, a surpass of $19.68 (monthly high May 18) would expose $21.48 (high Feb.20) and finally $26.40 (monthly high Feb.4).
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