As long as the dash-for-trash trade continues, ACB (Aurora Cannabis) will trigger an objective long entry on a solid break and/or daily close above this minor downtrend line. This is another cannabis stock that was not highlighted in yesterday’s video covering the sector so keep that in mind when factoring in position size, if you have taken or plan to take exposure to the sector.
ACB is also a penny stock which carries additional risk & should also factor into a downward beta-adjustment to one’s position size, assuming a very aggressive, counter-trend trade such as this even meshes with one’s risk-tolerance, trading style, & objectives to begin with. CGC (Canopy Growth) and CARA (Cara Therapeutics) are two others that stand out as well. Daily chart below.
ACB daily July 13th