RY 156.04 -0.032% TD 79.81 -0.4615% SHOP 99.81 0.9303% CNR 158.79 0.6401% ENB 53.84 0.4478% CP 111.87 0.8019% BMO 112.71 0.7419% TRI 225.62 0.396% CNQ 50.46 2.4777% BN 67.8 1.194% ATD 76.93 -1.0674% CSU 4321.5298 0.3257% BNS 67.27 1.3102% CM 78.76 1.5603% SU 54.66 -1.1037% TRP 62.42 1.2162% NGT 70.54 0.2558% WCN 251.32 0.3153% MFC 36.65 -0.0818% BCE 47.21 0.3187%
Company Overview: Aurora Cannabis Inc. (TSX: ACB) based in Edmonton, Canada, is a prominent player in the global cannabis industry. Specializing in both medicinal and recreational cannabis products, Aurora operates under a diverse portfolio of brands. This Report covers the Price Action, Technical Indicators Analysis along with the Stop Loss Levels, Target Prices, and Recommendation on this one stock.
Canada Market Round-Up
The benchmark S&P/TSX Composite Index (TSX: ^TSX) started last week on a positive note and maintained a bullish momentum for the entire week. The S&P/TSX composite index advanced by 16.87 points (0.07%) to 22690.39 for the week ending July 19, 2024. On July 22, 2024, the index closed at 22872.65, up by 182.26 points or ~0.80%. Healthcare, Technology, Utilities, Financials, Real Estate, Industrials, Energy, Consumer Cyclicals, and Consumer Non-Cyclicals were the leading sectors, While Basic Materials was the lagging sector on Monday. As per the data published by Statistics Canada, the Canadian retail sales decreased 0.8% to $66.1 billion in May. The weekly chart indicates that the index prices are trading above the falling trendline support zone. Moreover, prices are sustaining above the 21-period, which may act as a support level for the index. The immediate resistance for the index is around 23350, while the immediate support exists at 22300. On the weekly time frame, RSI is reading at ~68.30 levels.
On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include CA BOC Rate Statement, US Advance GDP q/q and Unemployment Claims.
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