After five days of losses, Aurora Cannabis gains 1.77% in after-hours trading after closing at 56 cents (-5.66%) yesterday

A quick look at yesterday: the Canadian cannabis producer found support around the 56 cents level, after closing Wednesday at 59.36 cents and dropping by 5.66% yesterday.

United States Pending Home Sales improved upon its previous reading of -5.2% with a new data release of 0%.

This down-slide takes place despite the positive US macroeconomics indicators data that was published earlier — data for United States GDP released yesterday at 12:30 UTC is better than expected with 1.3, but worse than previous figure of 2.6. United States Initial Jobless Claims beat the 250,000 projections, with 229,000.

The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions. Aurora Cannabis formed a session range of 55.15 cents to 59.99 cents leaving buyers and sellers highly concentrated around an active Fibonacci support level of 56.4 cents. In contrast, Bollinger Bands® shows an indication of recovery: the lower band is at 54.2184 cents, a low enough level to, generally, suggest that Aurora Cannabis is trading below its fair value. Although Aurora Cannabis is down today and was as low as 55.15 cents, it seems to be recovering slightly and climbing away from the 54.0967 cents support line and is now 2 cents above it.

Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for Aurora Cannabis.

Aurora Cannabis was not the only decliner in the health care sector; Medtronic crashes 4.51% yesterday to close at $87.49. Novartis went down to $97.78, losing 2.25% after it closed at $100.03 yesterday. Pfizer lost 2.07% yesterday and closed at $37.83.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as today at 12:30 UTC data for United States Core Durable Goods Orders will be released, with an expected decline to 0% from the preceding figure of 0.3%.

Furthermore, United States Core PCE Price Index (MoM) (Apr) will be released today at 12:30 UTC.

A day ago, the Canadian cannabis producer fell to a low of 56 cents but has since recovered 6%.