Signs An Aurora Cannabis Technical Breakout May Be Imminent (NYSE:ACB)Posted by On

Aurora Cannabis Inc (NYSE: ACB) is off to a hot start to 2019, but the stock is still trading well below its 2018 highs. The stock has been trading in a very narrow range for roughly a month now, and technical traders are anticipating a breakout in one direction or another in the near future.

Technical Trends

Aurora shares have been trapped in a narrow horizontal trading range between around $8.50 and $9.25 since mid-March. For a stock with a history of extreme volatility, Aurora has been stuck in an extended low-volatility consolidation period.

Aurora last tested the top of the consolidation channel April 22 when it closed at $9.23 before turning lower once again. It bounced off the bottom of the channel when it closed at $8.50 on April 15 and then bounced after opening at the same level the following day.

Despite the extended breather, Aurora shares are sitting on…

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