📍 Ticker: 
ACB (Aurora Cannabis Inc.)
📆 Timeframe: 1D (Daily)
📉 Price: $4.71
📊 Volume: 1.22M
📈 RSI: 42.76 (rising from oversold territory)
🔍 Technical Setup:
After years of decline,ACB has broken out of a large descending wedge, with price pushing above downtrend resistance and reclaiming horizontal support.
🔼 Breakout Structure: Descending wedge + horizontal base
📉 Bear market floor established at ~$3.00
📈 Next key level: ~$5.60, then $9.00+
💠 Price projection drawn within expanding ascending channel, targeting mid-to-upper range reversion over time.
🧠 Trade Plan & Price Targets:
✅ Entry Zone: $4.60–$4.80 (confirmed breakout, medium risk)
✅ Entry Zone: $3.60–$3.80 (full gap retest, lower risk)
✅ Entry Zone: $2.95–$3.10 (Lowest low, lowest risk)
❌ Stop-Loss: Close below $4.00 (failed retest + support invalidation)
❌ Stop-Loss 2: Close below $3.55 (Lower than the biggest gap low level)
❌ Stop-Loss 3: Close below $2.84 (Lower than the lowest low)
🎯 Target 1: $5.60
→ 📈 Return: +18.9%
🎯 Target 2: $9.00
→ 📈 Return: +91.0%
🎯 Target 3: $15.00
→ 📈 Return: +217.0%
⚠️ Key Insights:
RSI curling up from below 40 = momentum shift
Short interest remains high → potential short squeeze trigger
Price is now above long-term downtrend — trend reversal scenario in play
Macro sentiment toward cannabis may act as catalyst
Still haven't started the biggest US market
💬 Can Aurora Cannabis light up again and return to its long-term channel highs?
Follow for more setups with asymmetric risk/reward.
#TargetTraders #ACB #CannabisStocks #WedgeBreakout #ChannelReversion #PennyStockSetup
ACB (Aurora Cannabis Inc.)📆 Timeframe: 1D (Daily)
📉 Price: $4.71
📊 Volume: 1.22M
📈 RSI: 42.76 (rising from oversold territory)
🔍 Technical Setup:
After years of decline,
ACB has broken out of a large descending wedge, with price pushing above downtrend resistance and reclaiming horizontal support.🔼 Breakout Structure: Descending wedge + horizontal base
📉 Bear market floor established at ~$3.00
📈 Next key level: ~$5.60, then $9.00+
💠 Price projection drawn within expanding ascending channel, targeting mid-to-upper range reversion over time.
🧠 Trade Plan & Price Targets:
✅ Entry Zone: $4.60–$4.80 (confirmed breakout, medium risk)
✅ Entry Zone: $3.60–$3.80 (full gap retest, lower risk)
✅ Entry Zone: $2.95–$3.10 (Lowest low, lowest risk)
❌ Stop-Loss: Close below $4.00 (failed retest + support invalidation)
❌ Stop-Loss 2: Close below $3.55 (Lower than the biggest gap low level)
❌ Stop-Loss 3: Close below $2.84 (Lower than the lowest low)
🎯 Target 1: $5.60
→ 📈 Return: +18.9%
🎯 Target 2: $9.00
→ 📈 Return: +91.0%
🎯 Target 3: $15.00
→ 📈 Return: +217.0%
⚠️ Key Insights:
RSI curling up from below 40 = momentum shift
Short interest remains high → potential short squeeze trigger
Price is now above long-term downtrend — trend reversal scenario in play
Macro sentiment toward cannabis may act as catalyst
Still haven't started the biggest US market
💬 Can Aurora Cannabis light up again and return to its long-term channel highs?
Follow for more setups with asymmetric risk/reward.
#TargetTraders #ACB #CannabisStocks #WedgeBreakout #ChannelReversion #PennyStockSetup
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.