ACB Stock Price: Aurora Cannabis Inc. stays bid near 0.85 pre-market
|- ACB reverses Friday’s pullback and is hovering around 0.85 pre-market.
- Optimism is fuelling a strong opening in the US markets on Monday.
Aurora Cannabis Inc. (ACB) is expected to open Monday’s session on the positive fashion in the 0.85 region, rebounding from Friday’s lows around 0.79.
US equities, in the meantime, point to a firm open as all the three major indices are gaining nearly 4% in the pre-market hours at the time of writing. The upbeat tone in the European markets appears to be leading the way for US stock markets. In fact, the positive mood in the Old Continent follows latest news regarding the slowdown in both deaths and infected cases in both countries over the weekend, while the US is expected to enter a critical week with deaths from the COVID-19 approaching the 10,000 mark.
In the meantime, ACB is looking to resume the upside on a more serious note following a broad-based upbeat momentum in US equities and rumours citing earnings estimate have been revised up. Further consolidation should remain on the cards in the short-term horizon, however, as signalled by the daily RSI in the 40 area.
Aurora Cannabis Stock Price
At the moment (pre-market), the stock is gaining 4.99% at 0.85 facing the next hurdle at 1.13 (weekly high Mar.27) seconded by 1.39 (55-day SMA) and finally 1.79 (high Feb.20). On the downside, a breach of 0.78 (monthly low Apr.1) would expose 0.60 (2020 low Mar.19) and then 0.34 (monthly low Aug.2016).
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