After four days of gains, Aurora Cannabis falls 1.62% in pre-market trading after closing at 66.79 cents (+6%) Friday

Expected lower market open set to test ongoing trend following Friday's bullish close: pronounced bullish sentiment in the market helped the Canadian cannabis producer to make a notable 6% gain Friday, rising 3.79 cents and ultimately closing at 66.79 cents.

Aurora Cannabis Inc. made an initial breakout above its 50 day Simple Moving Average at 65.225 cents, a potential indicator of a newly emerging bullish phase. Aurora Cannabis formed a session range of 62.87 cents to 66.79 cents leaving buyers and sellers highly concentrated around an active Fibonacci resistance level of 64.6379 cents. In contrast, Bollinger Band® analysis indicates that current price action is approaching the upper band at 67.2026 cents, thereby suggesting that Aurora Cannabis is becoming overvalued. Aurora Cannabis could be slowing down soon as it approaches resistance at 68.0967 cents. Of course, crossing it might suggest further gains are ahead.

Overall, looking at the technical analysis landscape, it seems Aurora Cannabis likely to continue pointing upward in the short term.

This rally in Aurora Cannabis's share price coincided with other health care stocks as Sanofi was up 2.17%. Merck was up 1.31%. AbbVie added 1.16% to its value, and traded at $145.11.

Aurora Cannabis hit a significant low of 56 cents around 9 days ago, but has since recovered 12.5%.