The stock of Aurora Cannabis Inc. (NYSE:ACB) is now priced at $9.3 and the shares are -0.5 points down or -5.1% lower compared to its previous closing price of $9.8. The stock had 2.811 million contracts set over the past session. ACB shares’ daily volume is compared to its average trading volume at 3.851 million shares. However, it has a float of 109 million and although its performance was -2% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the ACB share price recently placing at $9.27 to $9.7267. However, some brokerage firms have priced the stock below the average, including one that has called $7.7.

The shorts are running away from the Aurora Cannabis Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the ACB shares have declined. Short interest in the stock represents just 16.01% of its float, but the volume has dropped by 0.

In the last trading session, Aurora Cannabis Inc. (NYSE:ACB) dropped by -$0.19 over the week and lost -$1.43 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $78. The stock recorded its established 52-week high on 09/11/19.

Since 05/14/20, the stock has traded to a low of $5.3 at 75.47%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.

Looking at current readings, Aurora Cannabis Inc.’s two-week RSI is 37.25. This suggests that the stock is neutral at the moment and that ACB shares’ price movement remains stable. The stochastic readings are equally revealing at 31.11% meaning the ACB share price is currently in neutral territory.

The technical chart shows that the ACB stock will likely settle at between $9.59 and $9.89 per share. However, if the stock dips below $9.14, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $8.98.

Currently, the stock is trading in the green of MACD, with a reading of 0.11. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.

Analysts at Stifel raised their recommendation for ACB from Sell to Hold in June 24 review. Jefferies analysts downgraded their recommendation of the stock from Hold to Underperform in a flash note released to investors on May 22. Piper Sandler seeing the improvements upgraded the stock from Underweight to Neutral on May 15, placing it at $12 to $10.

The average rating for the ACB equity is 3.06 and is currently gathering a bearish momentum. Of 17 analysts tracking Aurora Cannabis Inc. polled by Reuters, 12 rated ACB as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 3 analyst advised investors against buying the stock or to sell if they own any of the stock.