ACB Stock Price: Aurora Cannabis Inc. weaker below $14.00

ACB adds to recent losses and breaches the $14.00 mark.
US futures markets are deep into the red on coronavirus concerns.

Pablo Piovano FXStreet

Shares of Aurora Cannabis Inc. (ACB) have slipped back below the $14.00 mark during pre-market trading hours on Thursday amidst deteriorating prospects regarding the COVID-19 pandemic.

In fact, ACB is set to open with losses for the third session in a row on Thursday, as market participants continue to fade the earlier spike to weekly tops near the $16.00 yardstick (Tuesday).

On the broader scenario, both the Dow Jones and the S&P500 are expected to open the session with strong losses in response to investors’ concerns over the resurgence of COVID-19 infected cases, while the FOMC’s negative view on the economy (as per Wednesday’s meeting) is also adding to the sour sentiment.

Aurora Cannabis Stock Price

At the moment, ACB is losing 4.23% at $13.71 and faces the next support at $12.11 (low May 20) seconded by $10.83 (55-day SMA) and then $5.30 (monthly low May 13).On the upside, a surpass of $15.74 (monthly high Jun.8) would expose $16.89 (weekly high May 28) and finally $19.68 (monthly high May 18).

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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