U-turn? After three days of bearishness, Aurora Cannabis is up 0.67% today

Although Aurora Cannabis increased from 61.1 cents to 62.91 cents, the stock dropped back and is now priced at 61.51 cents.

Aurora Cannabis is currently trading at 61.51 cents following the release of Services PMI data from the United States.

Meanwhile, United States Services PMI came out at 53.7, while a consensus of analysts was expecting 51.5. United States Existing Home Sales (Mar) released yesterday at 14:00 UTC with a figure of 4.44 million, while the previous figure was 4.55 million. United States Philadelphia Fed Manufacturing Index (Apr) came out at -31.3.

Technical chart analysis shows although Aurora Cannabis Inc. is appreciating today after rising as high as 62.91 cents, price action is now slowing and consolidating around 2 cents below the 63.0467 cents resistance level. Trend-focused traders would be interested to note that 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. Asset volatility analysis shows that Aurora Cannabis's lower Bollinger Band® is at 60.8881 cents, indicating that the market is oversold and fertile for new buyers.

All in all, the technical analysis suggests Aurora Cannabis has no clear-cut direction.

This rally in Aurora Cannabis's share price coincides with other health care stocks as Novo Nordisk is up 4.46% to $172.75. Eli Lilly and Company added 2.57% to its value, now trading at $384.43. Sanofi added 2.32% to its value, now trading at $56.76.

Trending downwards for around 2 months. Since its 52-week high of $3.23, the Canadian cannabis producer has lost 81.08% over the last twelve months.