Reasons to buy Aurora Cannabis ACB stock
It’s been a rough year for cannabis stocks and even though Aurora Cannabis (NYSE: ACB) is one of the most notable companies in the Cannabis sector, it had its fair share of struggles in year 2019.
The stock has been dropping strongly for many months since April 2019. Following that yearlong downtrend, here are a few reasons to consider buying Aurora’s stock in 2020 based. Remember we only trade supply and demand imbalances, we are not interested in fundamentals for this particular cannabis stock.
We don’t care if the company could bring in a new CEO to negotiate a deal to bring consumer packaged goods to the company and bring greater financial discipline to the company. We could start adding fundamental analysis and why Aurora Cannabis hasn’t done very well last year.
Who cares about all that? What we should care is about the super strong monthly demand imbalance that price has reaches after months of continuous devaluation of the stock. As supply and demand traders we should only be interested in trading strong imbalances, price levels where the underlying asset is out of balance.
See Aurora Cannabis ACB stock monthly timeframe supply and demand analysis underneath. We can see a very strong monthly demand level around $2.15 per share. It’s a very strong impulse that provides us with a lot margin for price if price reacts to that imbalance as expected.
The stock has been dropping strongly for many months since April 2019. Following that yearlong downtrend, here are a few reasons to consider buying Aurora’s stock in 2020 based. Remember we only trade supply and demand imbalances, we are not interested in fundamentals for this particular cannabis stock.
We don’t care if the company could bring in a new CEO to negotiate a deal to bring consumer packaged goods to the company and bring greater financial discipline to the company. We could start adding fundamental analysis and why Aurora Cannabis hasn’t done very well last year.
Who cares about all that? What we should care is about the super strong monthly demand imbalance that price has reaches after months of continuous devaluation of the stock. As supply and demand traders we should only be interested in trading strong imbalances, price levels where the underlying asset is out of balance.
See Aurora Cannabis ACB stock monthly timeframe supply and demand analysis underneath. We can see a very strong monthly demand level around $2.15 per share. It’s a very strong impulse that provides us with a lot margin for price if price reacts to that imbalance as expected.
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