| 
May 09, 2023
A quick look at yesterday: despite the risk-off mood, Aurora Cannabis was range-bound between 64.51 cents to 67.78 cents and settled at 65 cents.
Aurora Cannabis Inc.'s upper Bollinger Band® is at 67.677 cents which indicates a further downward move may follow. On the other hand, note that although Aurora Cannabis is pointing down today (was as low as 64.51 cents), it's climbing away from the 63.73 cents support line and is now 1 cents above it.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Aurora Cannabis to extend its recent losses.
Aurora Cannabis was not the only decliner in the health care sector; Sanofi slides down 1.51% yesterday to close at $55.77.
On the other hand, positive performances could be seen by looking at other health care stocks as Novo Nordisk gained 3.19%, as it traded at $168.44. Stryker traded at $288.27 after closing yesterday's trading day at $284.71 (up 1.25%).
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -1.6 million from the preceding figure of -1.28 million.
Furthermore, United States Consumer Price Index is expected tomorrow at 12:30 UTC. United States Core Consumer Prices is expected tomorrow at 12:30 UTC.
Approximately 11 months ago, the Canadian cannabis spearhead reached a significant high of $3.09 but has struggled to hold onto its gains and declined 78.77% since then.
