TLRY
Ready or not here we go!!!So Tilray has it all, fundamentals..yes i just got the literature, healthy read, from the merger with apha and its looking fantasmagoric.
The industry is heating up globaly. Canadian cannabis sector on full boom and consolidation cicle..oportunity everywhere
I would thread carefully as always, cause this is a volatile industry..treat as day trade always.
Be ready to cal lin the sale afterhours or pre market...if you are fe..eling overnighty..
goodluck
\Just a thought
TLRY Sharp CorrectionFollowing my previous post, we now have 1-2 or we have A-B. Next is a 3 or a C that should target $24. Breaking above $24 increases the probability that it is a 3rd wave, and would target $28, $32, $35 and $40. Rejection at $24 would mean more pain ahead.
Macro degree, we will either get a head and shoulders, leading the price down to the $10 range, or we get an ABC up to retest the highs, or (least likely) we get a new impulse to new highs.
Indices are really scary right now. FED has no clue how to fight inflation and Biden administration with Warren is anticipated to be bad for markets. I am going to stay defensive, and trade only what is right in front of me.
$TLRY Bounce looks impulsiveI am anticipating a retest of upper resistance, most likely pre-market. Waves 5 can extend, but it wouldn't be reasonable not to expect at least some sort of pull back before charging higher.
Breaking the .618 at $28.85 would be the first hint that we could see a try at $29.50.