Traders are now suggesting that the Aurora Cannabis stock price may rise by the middle of March. In addition, the Aurora Cannabis stock price has now gathered further negative perspectives at the beginning of the new trading week because the prices are in a downward trend in all technical disciplines. Analysts are currently saying that this is terrible news for the cannabis industry in 2020.
One of the biggest cannabis companies is still in very bad shape. After the Aurora Cannabis stock price was able to climb back up from $1.89 to $2.02, it still suffers from a very negative sentiment based on the poor corporate figures announced in autumn.
Analysts say that this is probably the worst news for the new year.
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Aurora Cannabis stock price drops to the lowest in two years
Despite the price premium of more than 8% compared to the beginning of the year, the value in these spreads is anchored in a gigantic downward trend.
At $1.89 on Dec. 30, 2019, the Aurora Cannabis stock price was at its lowest level in the past two years. In fact, the share price of $1.46 in June 2017 was its lowest level for the past three years.
Provided that the current momentum is as expected, things will continue in this direction for the Aurora cannabis stock price in the coming weeks.
Round markers are typically seen as a possible price break. Below that, $0.31, the lowest price of the past four years from May 19, 2016, would be the obvious price target.
Is it still worthwhile to invest in Aurora Cannabis?
In this respect the prospects are unfavorable. In addition, the Aurora Cannabis stock price has now gathered further negative perspectives at the beginning of the new trading week.
This is because the prices are in a downward trend in all technical disciplines.
The 200-day line runs at $6 and is thus nowhere near within reach. The 100-day line at $4.08 should be a much more acceptable price target.
The chance of recovery is less than 10%, as there is a virtual 100% absence of price gains. In other words: the situation for the Aurora Cannabis stock price is completely muddled – even at the beginning of the week.
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