Search ForexCrunch
  • ACB adds to Wednesday’s gains and trades around 0.85 in pre-market hours.
  • US markets futures are in the red ahead of Good Friday holiday.

Aurora Cannabis Inc. (ACB) is seen extending the upside momentum on Thursday following two consecutive daily advances. In fact, the stock is hovering around the 0.85 level ahead of the opening bell in Wall Street.

US equities, in the meantime, point to a negative opening following Wednesday’s strong advance, with all three major indices trading slightly into the negative territory in the pre-market activity.

In the meantime, ACB remains locked within the consolidative pattern prevailing since mid-March and staying apathetic against the backdrop of rumours mentioning that earnings estimates have been revised up. The broader technical view in the stock keeps pointing to extra further rangebound, as shown by the daily RSI in the 44 area.

Aurora Cannabis Stock Price

At the moment (pre-market), the stock is down 0.26% at 0.85 and faces the next support at 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). On the upside, the next resistance lines up at 1.13 (weekly high Mar.27) seconded by 1.32 (55-day SMA) and finally 1.79 (high Feb.20).