ACB Stock Price: Aurora Cannabis Inc. remains on the defensive below $16.00
|- ACB is extending the weekly downside and drops to sub-$16.00 levels.
- US markets opened Thursday’s session with moderate gains.
Aurora Cannabis Inc. (ACB) is down for the third consecutive session on Wednesday, slipping back below the $16.00 mark per share and flirting at the same time with he 100-day SMA in the $14.80 region.
The Canadian-based company stays trapped into the negative territory so far this week despite the generalized upbeat mood in the US markets and the broader risk appetite trends.
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.
On the broader scenario, the upside pressure in the DowJones and the S&P500 is everything but abated, with both indices posting moderate gains and always against the backdrop of the continuation of the better mood in the risk complex.
Aurora Cannabis Stock Price
At the moment, ACB is retreating 0.26% at $15.57 and faces the initial support at $9.81 (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).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.