| 
June 28, 2023
A quick look at yesterday: pronounced bearish sentiment in the market pushed the Canadian cannabis producer into a notable 1.33% slide yesterday, falling 0.72 cents and ultimately closing at 53.27 cents.
United States Fed Chair Powell speech is next today at 13:30 UTC.
This down-slide takes place despite the positive US macroeconomics indicators data that was published earlier — United States Consumer Confidence improved upon its previous reading of 102.5 with a new data release of 109.7. Highly important Core Durable Goods Orders data from United States beat analyst expectations of -0.1% with a reading of 0.6%.
Amid the market gloom, United States New Home Sales (May) released yesterday at 14:00 UTC with a figure of 763,000, while the previous figure was 680,000.
Aurora Cannabis Inc.'s lower Bollinger Band® is at 48.9096 cents, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Aurora Cannabis could begin to recover as it approaches significant support, now 1 cents away from 52.275 cents. Dipping below could be an indication that further losses are ahead.
Technical analysis indicates that Aurora Cannabis (currently on a downtrend) might reverse course and start pointing upward in the short term.
Aurora Cannabis was not the only decliner in the health care sector; Thermo Fisher Scientific lost 2.38% yesterday and closed at $509.62. Pfizer went down to $36.42, losing 1.27% after it closed at $36.89 yesterday.
On the other hand, positive performances could be seen by looking at other health care stocks as Eli Lilly and Company traded at $464.5 after closing yesterday's trading day at $452.76 (up 2.59%).
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as projections for United States GDP are set for a continuation of decline with 1.4 while previous data was 2.6; data will be released tomorrow at 12:30 UTC. United States Initial Jobless Claims projected to come out at 266,000 — worse than previous data of 264,000; data will be released tomorrow at 12:30 UTC.
In addition, United States Crude Oil Inventories is projected to outperform its last figure with -1.76 million. It previously stood at -3.83 million; data will be released today at 14:30 UTC.
The Canadian cannabis producer has fallen back around 71.43% from the significant high of $1.89 set 10 months ago.
