Hey Traders!
Today we're looking at how the Directional Momentum Flux (DMF) strategy performed against Aurora Cannabis Inc (NYSE: ACB) during a two-week study period. Overall performance of ACB was not very strong during the period (7/15 to 7/31/2019), but DMF was able to identify many momentum inflection points and capture quite a decent return of around 44%....
ACB gapped up over the key resistance and saw profit taking, fighting back throughout the day to climb to a new high of day.
Levels I'm watching
S: 9.07
R: 9.88
Watching the ACB hourly uptrend, the loss of which will signal healthy daily consolidation is coming. A break of Thursday's high of 9.28 will have us looking for bounce continuation.
Key levels:
S: 8.84
R: 9.28
