Lethargic start to the session sees Aurora Cannabis drop as low as 63.03 cents

Aurora Cannabis is down to 63.9 cents, after ending yesterday at 65 cents. Overall, a 1.69% loss or 1.1 cents today.

United States EIA Short-Term Energy Outlook is next today at 16:00 UTC.

Aurora Cannabis Inc. made an initial break below its 3 day Simple Moving Average at 63.8667 cents, a possible indication of a forthcoming negative trend. Aurora Cannabis's upper Bollinger Band® is at 67.5252 cents which indicates a further downward move may follow. Aurora Cannabis could begin to recover as it approaches significant support, now 1 cents away from 63.73 cents. Dipping below could be an indication that further losses are ahead.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts Aurora Cannabis to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the the Canadian cannabis producer is expected to attract significant bearish sentiment in the coming days.

In the meantime, negative performances are also seen in other health care stocks as Thermo Fisher Scientific is down 1.32% from the beginning of the session and now trades around $535.44. After closing the previous session (yesterday) at $110.9, Abbott Laboratories lost 85.5 cents and is trading around $110.05.

Positive performances can be seen by looking at other health care stocks as UnitedHealth is up 0.99% to $497.49.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of -1.6 million, following on from the preceding figure of -1.28 million. New data is set to be published tomorrow at 14:30 UTC.

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.

Over the past 11 months, the Canadian cannabis producer has retreated 78.96% from a noteworthy peak of $3.09.