Tilray Brands, Inc.Short
Short Tilray
Updated
Tilray appears to be currently printing a classic hanging man on the daily while seeking to establish a stronger RSI(which it has just done reaching 90.4) from Aug. 27th RSI high of 89.47.
Stoch RSI is in overbought territory on the 4hr at the moment and likely headed southbound as indicated by the hanging man currently printing.
Given the substantial price increase in just shy of 30 days($35 on Aug. 20 - $235 on Sept. 19 = ~570%) I'd take profits and reduce my position until $86 is tested as support.
Let me know what you think.
Stoch RSI is in overbought territory on the 4hr at the moment and likely headed southbound as indicated by the hanging man currently printing.
Given the substantial price increase in just shy of 30 days($35 on Aug. 20 - $235 on Sept. 19 = ~570%) I'd take profits and reduce my position until $86 is tested as support.
Let me know what you think.
Note
I just don't think this bull run can be sustained for much longer
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.