Aurora Cannabis gains 1.28%; sets session high of 54.2 cents

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

Aurora Cannabis Inc. is 1 cents away from testing key resistance at 53.92 cents. Peaking above this level could inspire market bulls and open the path to further gains. Despite posting gains on Friday, Aurora Cannabis 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.

After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest 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 added 1.4% to its value, and traded at $280.64. Abbott Laboratories was up 0.9%. Medtronic was up 0.76%.

The Canadian cannabis spearhead has fallen back around 72.31% from the significant high of $1.89 set 9 months ago.