Finance

Aurora Cannabis stock price remains on steep decline

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.

Investors saw the Aurora Cannabis stock price drop by half in the last two years. (Source)

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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(Featured image by StartupStockPhotos via Pixabay)

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This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in finanz trends, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Hemp.im assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Hemp.im is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Andrew Ross

Andrew Ross is a features writer whose stories are centered on emerging economies and fast-growing companies. His articles often look at trade policies and practices, geopolitics, mining and commodities, as well as the exciting world of technology. He also covers industries that have piqued the interest of the stock market, such as cryptocurrency and cannabis. He is a certified gadget enthusiast.

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