Solid session for Aurora Cannabis generates 1.17% gain Thursday

Investors are currently sidelined due to the Good Friday holiday but will return to their desks tomorrow. Looking back over the previous session Thursday: after closing at 64.7 cents on Wednesday, Aurora Cannabis maintained a strong bullish bias that helped the stock close higher at 65.46 cents Thursday. However, market bears ensured the the Canadian cannabis spearhead topped out at 66.28 cents and that by the end of the session, the market had marked out a distinct 63 cents to 66.28 cents range.

Aurora Cannabis Inc. made an initial breakout above its 3 day Simple Moving Average at 66.11 cents, a potential indicator of a newly emerging bullish phase. 'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end. Aurora Cannabis's lower Bollinger Band® is at 63.5069 cents, indicating that the market is oversold and fertile for new buyers. On the other hand, note that although Aurora Cannabis is appreciating today after rising as high as 66.28 cents, price action is now slowing and consolidating around 1 cents below the 66.8267 cents resistance level.

Aurora Cannabis continues to move higher with technical analysis indicating the trend will continue in the short term.

This rally in Aurora Cannabis's share price coincided with other health care stocks as Bristol-Myers Squibb Company was up 2.15%. Sanofi gained 2%, as it traded at $55.93. Eli Lilly and Company added 1.67% to its value, and traded at $368.29.

Pointing downwards for around 2 months. The Canadian cannabis producer reached a significant high of $3.69 around 11 months ago but has lost 82.47% since then.