| 
June 30, 2023
Having fallen 8.07 cents in 6 days, More of the same from today's session: the Canadian cannabis producer has recovered almost all of its session losses after dipping down to 51.5 cents today.
Pending Home Sales in United States fell short of market expectations (-0.5%) with a reading of -2.7%, continuing the decline from the previous figure of -0.4%.
Amid the market gloom, United States Core PCE Price Index (YoY) (May) came out at 4.6, while a consensus of analysts was expecting 4.7. United States Core PCE Price Index (MoM) (May) released today at 12:30 UTC with a figure of 0.3, while the previous figure was 0.4.
Aurora Cannabis Inc. could begin to recover as it approaches significant support, now 1 cents away from 52.33 cents. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, Aurora Cannabis peaked above its 5 day Simple Moving Average around 53.764 cents — typically an early indicator of a new bullish trend beginning to emerge. A Morning Star, which is a bullish visual pattern consisting of three candlesticks. The pattern forms following a downward trend and tends to indicate a reversal before the start of a new upward climb. Aurora Cannabis's lower Bollinger Band® is at 49.6681 cents, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Technical analysis indicates that Aurora Cannabis (currently on a downtrend) might reverse course and start pointing upward in the short term.
On the other hand, positive performances could be seen by looking at other health care stocks as Novo Nordisk traded at $161.83 after closing today's trading day at $157.03 (up 3.06%). Pfizer traded at $36.68 after closing today's trading day at $36.12 (up 1.55%).
Having soared to a high of $1.89 approximately 10 months ago, the Canadian cannabis spearhead is now trading 71.62% lower.
