Aurora Cannabis closed at 73 cents, continuing its bearish run

Having fallen 11.08 cents in 7 days, Yesterday's session continued down the same path: during yesterday's session, Aurora Cannabis toiled and struggled for upward momentum before closing at 73 cents. By the close, the the Canadian cannabis producer suffered a 1 cents or 1.35% loss.

Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to momentum evaluation, the Relative Strength Index indicates Aurora Cannabis is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at 71.4546 cents, a low enough level to, generally, suggest that Aurora Cannabis is trading below its fair value.

All in all, the technical analysis suggests Aurora Cannabis has no clear-cut direction.

Aurora Cannabis was not the only decliner in the health care sector; Merck closed at $104.1 (down 3.02%). Abbott Laboratories went down to $97, losing 2.04% after it closed at $99.03 yesterday.

Pointing downwards for around a month. The Canadian cannabis producer has fallen back around 83.41% from the significant high of $4.46 set 11 months ago.