Short $TLRYShort $TLRY looks like hitting resistance if it breaks we can look for another $1 + but if it cant break look for lower lows.
TTTilray Brands, Inc.
1.89CADD
−0.13−6.44%
Last update at Aug 29, 20:00 GMT
CAD
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TLRY trade ideas
BullishHi traders, As we can see TIlray has been holding support and rallying with other cannabis stocks. From a technical aspect this is bullish on the lower timeframe. We also need to consider fundamentals. Tilrays fundamentals are not looking so great, this company has a budgeting problem, however they have been growing their revenues at a very promising rate. I believe TIlray will 3x by the end of 2020. Goodluck and stay fly .
[TLRY] Boxed in w/ Nowhere to Go but Down, Load Up Pre EarningsBest case scenario TLRY bounces between $7 and $10 until earnings. I think it'll crack below the support there along with overall market weakness and tumble back down, who knows how low, really doubt it'll retest lows ($2.5 is a crazy steal) but anything under $7 really is a great value buy here especially after what ACB just demonstrated but if you're stingy like me you're probably aiming to buy in the $4-$5 range.
The industry gravity seems to be having an especially depressing effect on TLRY (aside from the overall climbing support line). Even as ACB soared and CGC, OGI, APHA and hell even the black sheep of the industry, SNDL and HEXO, made double digit gains, TLRY stayed mostly put.
Everything now reverting to mean because industry gravity is too high, that's only going to pull TLRY lower.
Eventually that gravity will dissipate and all these companies will soar, just a matter if that happens this earnings or next, but will happen.
$TLRY Weekly Review
Major support at $7.25 has held for 3 weeks upon several key tests.
Key levels to watch for possible increased exposure $9.50 & $10.00
Price resistance above these levels are quite weak until the $15.00 level.
If we get a short squeeze its very possible to reach $15 in 1 session.
Lets hope the bottom may be in for the sector after ACB's huge move Friday.
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Technical Analysis on TLRYNASDAQ:TLRY
Wow what a chart. Down over 95%. Will the bleeding finally stop?
Drop to 1.618 support with inverted hammer signals a reversal. Previous drops after pops have acted similarly as show on the chart with fibs charted out.
It is down out of that huge descending trend area, lost that long time support which could act as major resistance. Very interesting indeed.
Some chart info:
Moving averages are exponential. Indicator is by LazyBear called 8x MA with configurable lengths
Green: EMA 10
Skinny Red: EMA 20
Thicker Red: EMA 26
Orange: EMA 50
Light Blue: EMA 100
Dark Blue: EMA 200
Skinny Black: EMA 250
Skinny Purple: EMA 300
Bottom indicators are:
RSI (14, CLOSE)
Stoch RSI (3,3,14,25, CLOSE)
Stoch (5,3,3)
ADX and DI (14,20)
TLRY 1D Possible LONGTLRY on 1 day chart corrective wave triangle if i did drought correct triangle lower line than we are in bullish flag and if we will break major resistance line top line of triangle to the top plus TLRY on top of 50 moving average now with conformation doji and Stochastic had higher high at same time chart/candles showing low high thats lost of momentum its BULISH sign. I say LONG but top triangle line have to be broken upwards first. Please make your own decision i make mistakes but market always correct so its easy just follow the market, manage ur risk, plus size ur positions correct, be very discipline, no emotions in trading and u will make money
link:
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Buy the DipFirst off I don’t like providing price targets. Wait for price conformation to buy. The market should still rise a little next week but I still believe we have one more leg down. TLRY should finish up next month. This quarter will be the low in the market as a whole. Capital will flee to the US market since we have no where else to go. Hold cash and wait for the dip.
$TLRY Finally Breaks the 50Day Moving Average
Earnings approaching on the 11th may and as per usual this will be a battle ground
The stock has been building a consistent base and has finally broken above the 50MA
lets look deeper into the technical .
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