Aurora Cannabis closes at 53 cents after gaining 1.28%

A quick look at Friday: after closing at 52.33 cents on Thursday, Aurora Cannabis rallied as high as 54.2 cents but ended the day at 53 cents.

Despite posting gains on Friday, Aurora Cannabis Inc. slid below its 10 day Simple Moving Average at 52.701 cents during the last session — an early indicator that a negative trend could be emerging. Aurora Cannabis could be slowing down soon as it approaches resistance at 53.92 cents. Of course, crossing it might suggest further gains are ahead.

Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates Aurora Cannabis is set for a reversal in the coming days.

This rally in Aurora Cannabis's share price coincided with other health care stocks as Stryker was up 1.4%. Abbott Laboratories was up 0.9%. Medtronic traded at $83.73 after closing Friday's trading day at $83.1 (up 0.76%).

Over the past 9 months, the Canadian cannabis producer has retreated 72.31% from a noteworthy peak of $1.89.