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March 15, 2023
Today at a glance: during today's session, Aurora Cannabis toiled and struggled for upward momentum before closing at 70.92 cents. By the close, the the Canadian cannabis spearhead suffered a 1.92 cents or 2.64% loss.
Aurora Cannabis is currently trading at 70.92 cents following the release of Crude Oil Inventories data from the United States.
The Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. A crossing of the lower Bollinger Band® at 70.9583 cents suggests further losses may follow for Aurora Cannabis.
Several technical indicators are adding weight to the bearish momentum seen today and forecasting Aurora Cannabis to extend its recent losses.
Aurora Cannabis was not the only decliner in the health care sector; Thermo Fisher Scientific went down 2.39%, closed at $555.96.
On the other hand, positive performances could be seen by looking at other health care stocks as Amgen added 1.87% to its value, and traded at $234.9. Bristol-Myers Squibb Company traded at $67.48 after closing today's trading day at $66.47 (up 1.52%).
Some optimism can drawn from the fact that United States Initial Jobless Claims is projected to outperform its last figure with 205,000. It previously stood at 211,000; data will be released tomorrow at 12:30 UTC.
Furthermore, United States Philadelphia Fed Manufacturing Index (Mar) scheduled to come out tomorrow at 12:30 UTC. United States Building Permits (Feb) is expected tomorrow at 12:30 UTC.
Trending downwards for around a month. Having set a significant high of $4.46 11 months ago, the Canadian cannabis producer is trading 83.67% lower.
