Candlesticks turned to BUY on ACB
Despite its high valuations and poor fundamentals compared to peers, and the fact that ACB Is a short seller target as we can see with schocor and others bears here, the candles have turned into a BUY for ACB. That's why technical traders cut through the smoke and trade on charts.
So if the markets continue to hold and the sector turns bullish as evidence by impressive gains by some of its peers, ACB is due for a nice run.
But investors out there should pay attention to what the bears are saying. Not the flip-flop traders who clearly are here thinking stockhouse has an impact on billion dollar stocks. It doesn't. But the bear that focus on tangibles have some very valid points you need to keep in your mind when the charts tell you to sell. They don't right now.
Regardless of the tangibles, I see several bears making serious mistakes here. One of them is not using technical trading. Using fundamentals only works compared to peers when it comes to longer term investing. ACB is a Valeant, they will be able to double and even triple their market caps when the euphoria returns. The growth by acquisition is very formidable, especially in a non-GAAP world. Much like short sellers who shorted Valeant at the wrong time, Aurora short sellers will face the same issue. The stock continuing to rise.