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  • ACB sheds more than 10% in the wake of the US opening.
  • US markets opened on the defensive and drop around 1.0%.

Aurora Cannabis Inc. (ACB) is reversing three consecutive daily advances and trades well into the negative ground, losing around 10% to the 0.75 region following the opening bell in Wall St.

In the meantime, both the S&P500 and the DowJones are down around 1% against the backdrop of unabated concerns over the coronavirus, while the oil crisis is also adding to the sour sentiment.

Further out, ACB has returned to the comfort zone around the 0.80 mark following the rejection from March tops around 1.13 and seems to have shifted its focus to the bottom of the range near the 2020 low at 0.60 (March 18).

Aurora Cannabis Stock Price

At the moment, ACB is down 12.93% at 0.76 and faces the next support at 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 1.27 (55-day SMA) and finally 1.79 (high Feb.20).