Aurora Cannabis $ACB is in a 2-year consolidation mode that started at the start of 2018 when price found resistance at $12.25. ACB Daily Chart(click to enlarge)Bearish Within Consolidation:- On the daily chart, we can see that price is trading in a wide range between roughly $4.10 and $12.25. - Price retreated from $12.25 twice in 2018. - In 2019, price failed to reach $12.25, and instead found resistance just above $10.00 in March.- Then price fell back below the 200-day simple moving average and central pivot around $8.00.- This failure to reach the resistance could be seen as a bearish sign within the consolidation context.- Next, price has found resistance at $8.00 twice since breaking down this level as support. Support turning resistance is another sign that bears are in charge at least in the short-term.Downside:- I think a break below $7.00 is going to happen in July and that will open up the $4.10-$5.00 area. - If price does reach this area, I would not rely on it for support outside of the short-term. The failure to reach $12 area is a warning that there could be further downside. - Therefore, I would not be surprised if price eventually breaks down this support area and reaches into the $2.50-$3.00 area, which represents the top of a previous consolidation range. $8.00:- $8.00 is a key central pivot. Resistance from it is the key signal for the bearish outlook.- Thus, a break above $8.00 might make this bearish outlook unlikely. - However, it wouldn't be a bullish signal, unless $8.00 becomes support. ACB Weekly Chart(click to enlarge)