ACB Stock Price: Aurora Cannabis Inc. drops to 0.90 pre-market

ACB partially fades Tuesday’s uptick and trades around 0.90.
US markets expected to open on the back foot on COVID-19 fears.

Pablo Piovano FXStreet

Aurora Cannabis Inc. (ACB) is seen opening Wednesday’s session slightly on the defensive around the 0.90 area after gaining around 2% on Tuesday.

In the meantime, US futures point to a negative start of the session in Wall St. on Wednesday as concerns over the impact of the coronavirus on the economy remain on the rise, particularly after the White House foresees between 100K-240K coronavirus deaths in the country.

In the meantime, ACB continues to correct lower after Friday’s weekly peaks at 1.13, returning to the area below the 1.00 mark. Further consolidation should remain on the cards, as signalled by the daily RSI in the 45 region.

Aurora Cannabis Stock Price

At the moment (pre-market), the stock is losing 0.21% at 0.90and a breach of 0.79 (10-day SMA) would expose 0.60 (2020 low Mar.19) and then 0.34 (monthly low Aug.2016). On the upside, the next up barrier emerges at 1.13 (weekly high Mar.27) seconded by 1.44 (55-day SMA) and finally 1.79 (high Feb.20).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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