N00b Chart analysis Will talk about the chart on the NASDAQ since volume is greater which makes price action more meaningful (price will be in $ USD)
Before I start, please note that ACB tanked -17.49% after hours which affected APHA that also tanked -1.98%.
Assuming we open tomorrow at the same price as after market 4.45$, we have a nice base of support around 4.40, 4.38 being the lowest price hit.
What I mean by nice base of support is that if you draw an horizontal line at 4.38 while takingg a look at the Daily Time Frame (Each candle represents the price action of 1 trading day), you can see that we bounced multiple time from that price or higher. To be more specific we bounced from prices between 4.38 and 4.40.
Just because I like to help everyone I will provide the data, to make sure you understand base of support.
Please note that LOD = Low of The Day
- July 13th LOD 4.40
- August 7th LOD 4.38
- August 12th LOD 4.40
- August 24th LOD 4.39
- September 4th LOD 4.38
- September 21st LOD 4.40
- September 22nd (Today) LOD 4.38
So that's what I mean by a base support because 7 times it has tested and bounced.
You can call it an Hepta (7) bottom or a base of support to sound less weird.
Gonna try to show you the graph hopefully it works!
Key Supports
- Today LOD 4.38 which is the lower end of our base of support also
- Small gap to fill at 4.31, the gap is between July 10th and July 13th
If a support breaks during the day and there's no bear follow up, like closing at 4.31 (tomorrow) then it's not the end of the world as long as we close above 4.38
Key Resistances
Please note that HOD = High of the Day
- Today HOD 4.56
- September 21st HOD 4.59
- September 18th HOD 4.70
- September 15th HOD 4.75
If Bullls want to prove something tomorrow and make a statement, don't break 4.38 support and close above today HOD 4.56. If it wasn't for Aurora bad reaction to earnings It would of been realistic to say instead close above 4.75.
Just to give you an idea of Aurora performance :
- 150M cash burned
- 162M cash left on the balance sheet
- EPS for fiscal 2020 -33.94/share yes -33.94 I didn't do a mistake, it's because of an 1.6B writedown
They certainly don't have a good thing growing and we certainly don't want to acquire them.