- ACB extends the consolidation around the $14.00mark.
- US futures markets are set to open with strong gains post-Payrolls.
Aurora Cannabis Inc. (ACB) remains well within the rangebound theme around the $14.00 mark per share in the pre-market trading hours at the end of the week.
The pot-company is prolonging the consolidative mood so far this week, paying no attention at all to the prevailing risk-on sentiment in the global markets.
Following the failed attempt to surpass the $20.00 mark per share earlier in May, price action in the Canadian-based company sparked a correction lower which is now seem stabilized around the $14.00 neighbourhood. Further out, traders remain highly sceptical regarding the prospects of future gains in the Canadian-based company after it payed $40 million to acquire cannabidiol (CBD) maker Reliva LLC last week and the latest earnings report surpassed estimates.
On the broader scenario, both the DowJones and the S&P500 are sharply higher on Friday following the better-than-expected results from the labour market during May.
Aurora Cannabis Stock Price
At the moment, ACB is up 0.14% at $14.25 and a surpass of $16.89 (weekly high May 28) would expose $19.68 (monthly high May 18) and finally $21.48 (high Feb.20). On the downside, the initial support comes in at $12.11 (low May 20) seconded by $10.35 (55-day SMA) and then $5.30 (monthly low May 13).
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