Aurora Cannabis Stock Analysis: Key Levels And Trading Opportunities
Cannabis stocks have faced significant challenges recently, driven by political uncertainty that has further weighed on a sector still struggling to regain its footing since the overhyped all-time highs of 2021.
To help investors navigate the long-term outlook for key cannabis companies, we are introducing a series of in-depth technical analyses, focusing on actionable insights from technical indicators to support informed financial decisions.
After analyzing Canadian cannabis giant Canopy Growth (NASDAQ:CGC), it’s time to turn our attention to another heavyweight: Aurora Cannabis (NASDAQ:ACB).
Based in Alberta, Aurora remains a key player in the sector and a major contender for Canopy. So, grab a seat as we dive into the technical setup and explore what the future might hold for this heavy-weight cannabis company.
We will use Fibonacci Retracement, a popular tool in technical analysis that helps traders identify key levels where a stock might reverse or stabilize. In Aurora’s case, the tool is applied from the March low of $2.7 to the April high of $8.96. In the case of Canopy, the starting point …