$ACBFF – Aurora Cannabis Inc – Breakout Long Idea (Marijuana Play)

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$ACBFF – Aurora Cannabis Inc – Breakout Long Idea (Marijuana Play)

Breakout Long Idea on $ACBFF – Aurora Cannabis Inc

$ACBFF Breakout Long Idea

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$ACBFF has a good setup for a long idea on a breakout.  The stock is extended but with Marijuana being so hot right now the momentum alone can make this a nice trade.

Sorry a little Zoolander reference that popped up in my head.  Anyway, this stock is actually the U.S. version of Canada’s ACB:CN.  What I like for the trade’s potential is marijuana is legal in Canada which gives people confidence that these Canadian based stocks can really run with limited headwinds.  $ACBFF showed up today on my ‘Darvas Breakout Scanner’ and I currently have an alert, on my thinkorswim, setup at $11.80 which will likely trigger tomorrow.

  • Entry:  Above $11.83
  • Stop: $10.85
  • Target 1: $15.79 Risk:Reward 3.99
  • Target 2: $16.80 Risk:Reward 5.01

You can follow this trade on my Tradingview post as well:

https://www.tradingview.com/chart/ACBFF/kOU1Ufoe-Breakout-Long-Idea-on-ACBFF-Aurora-Cannabis-Inc/

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Mark aka TheBossTrader

TheBossTrader
TheBossTrader
http://www.thebosstrader.com

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