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May 13, 2023
Yesterday at a glance: a tough session dominated by bearish sentiment left Aurora Cannabis 2.58 cents lower, while setting a 55 cents to 58.97 cents session range.
Meanwhile, United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 216,600, while the previous figure was 214,800. United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 195,800, while the previous figure was 195,600. United States CFTC Nasdaq 100 speculative net positions released yesterday at 20:30 UTC with a figure of 21,400, while the previous figure was 13,300.
The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions. Despite this, Aurora Cannabis's lower Bollinger Band® is at 54.9501 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 2 cents away from 54.3433 cents. Dipping below could be an indication that further losses are ahead.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Aurora Cannabis.
Aurora Cannabis was not the only decliner in the health care sector; Bristol-Myers Squibb Company lost 1.48% yesterday and closed at $68.06. Thermo Fisher Scientific went down 0.97%, closed at $529.79.
On the other hand, positive performances could be seen by looking at other health care stocks as Novo Nordisk gained 1.35%, as it traded at $171.27.
The Canadian cannabis producer has recovered 4.61% since descending to a significant low of 56 cents around a day ago.
