RY 169.88 -1.0542% SHOP 144.59 -0.959% TD 77.85 -0.1667% ENB 59.62 -0.5505% BN 78.53 -0.971% TRI 223.92 -0.2495% CNQ 47.03 -0.0213% CP 102.49 -0.5627% CNR 147.77 -0.8787% BMO 131.32 -0.0685% BNS 78.4 0.0255% CSU 4463.7002 0.6222% CM 90.42 0.6344% MFC 44.91 -1.3184% ATD 77.0 -0.7604% NGT 60.01 -0.4149% TRP 68.0 -2.2989% SU 56.965 -0.4282% WCN 260.14 -0.653% L 176.45 0.7135%
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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