With the ACBFF (Aurora Cannabis) Active Long-term Trade profitable by as much as 231% so far today, coupled with the fact that I’m starting to see profit taking in some of the other cannabis stocks, it would be prudent to book partial profits and/or at least raise stops at this point. The official stop will now be set to a daily close below 0.78. While that stop may seem unusually large, it is still 42% above the entry price & strategically set just below a key support level as I’m playing the ‘long-game’ in this trade/investment vs. the previous two swing trades, which were simply hit & run trades (also completely separate, although concurrent trades to the Long-Term Trade). The sole target, which is likely to be revised higher or lower, depending on how the technicals & fundamentals on both Aurora & the cannabis sector as a whole develop going forward, remains at 3.00.
ACBFF daily Oct 6th