ACB Stock Price: Aurora Cannabis Inc. looks offered around 0.72 pre-market


  • ACB trims part of Tuesday’s gains to the 0.75 region.
  • The White House, US Senate and Democrats agreed on further stimulus.

Aurora Cannabis Inc. (ACB) is struggling to keep the recent upbeat mood on Wednesday, trading slightly in the negative territory below the 0.72 mark in the pre-market activity.

The stock closed Tuesday with decent gains following the generalized upbeat mood in the riskier assets, all in response to the latest round of monetary stimulus announced by the Federal Reserve at the beginning of the week, which included, among other measures, open-ended purchases of Treasuries and MBS.

Further out, earlier on Wednesday, the US Senate along with the White House and Democrats agreed on further stimulus to counteract the expected negative impact of the COVID-19 on the US economy. Markets, however, appear quite sceptical on the news, as reflected by the current negative performance of futures of the S&P (-1.77%), DowJones (-0.71%) and NASDAQ (-1.40%).

Let’s recall that the extreme “oversold” condition of ACB (daily RSI just above 30.00) could spark a bounce in the short term. However, this view should be taken with a pinch of salt and could well represent an opportunity to shorten the stock. Supporting this view, the ADX indicator – which gauges the strength of a trend – is hovering around 43, signalling a strong (down) trend.

Aurora Cannabis Stock Price

At the moment (pre-market), the stock is losing 0.14% at 0.716 and a breach of 0.60 (2020 low mar.19) would open the door to 0.34 (monthly low Aug.2016) and finally 0.32 (monthly low Jul.2016). On the flip side, the next hurdle is located at 0.81 (high Mar.23) seconded by 0.84 (weekly high Mar.20) and then 1.06 (21-day SMA).

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.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex News

Editors’ Picks

AUD/USD holds onto recovery gains above 0.6050, RBA eyed

AUD/USD stays within the two-hour-old 0.6080-6100 range, currently around 0.6090, while stepping forward for Tuesday’s Asian session. In doing so, the pair holds onto Monday’s recovery gains, mainly due to slightly positive coronavirus (COVID-19) data from Europe, ahead of the key RBA meeting.

AUD/USD News

USD/JPY: Mildly bid above 109 amid mixed sentiment

Having benefited from the recovery in virus data from global hot-spot, while marking a three-day winning streak on Monday, USD/JPY buyers seem to catch a breath around 109.25 amid the early Asian session on Tuesday.

USD/JPY News

Gold: Refreshes four-week high, $1,685 on bulls’ radar

Gold prices remain on the front foot while taking the bids near $1,668, up 0.70%, amid the Asian session on Tuesday. In doing so, the bullion refreshes the four-week high with an intraday peak of $1,674.15 while also marking a fifth consecutive daily gain.

Gold News

WTI snaps three-day winning streak

WTI oil fell by over 8% on Monday, ending a three-day winning streak, which saw prices rise from $19.94 to $29.11. The black gold fell as Saudi Arabia and Russia's decision to delay an emergency meeting to discuss output cuts shifted focus back to oversupply concerns.

Oil News

Johnson Hospitalised, Oil Awaits Treatment

Sterling slipped after UK Prime Minister Boris Johnson was moved to the intensive care unit for coronavirus treatment, but the broad risk trade remained strong on optimism with slowing growth in the number of Corona virus cases. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures