Ascending Triangle or Bullish Flag for TLRY?Tilray appears to be trading in an Ascending Triangle pattern, notice the green upward sloping line has acted as support multiple times, fairly bullish considering the now known merger with Aphria.
The blue pattern on the chart is forming a bullish flag or potentially a descending triangle.
On the KST there has been a bullish cross where I have placed the blue downward pointing finger.
The DPO & RSI both seem to have similar appearances, maybe a head and shoulders pattern will form, the next few weeks will give a better indication.
I have drawn a hypothetical red line to show how the H&S may occur on the RSI.
TLRY trade ideas
$TLRY entry PT 8.15 PT 15 and higherTilray, Inc. engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products to patients, physicians, pharmacies, governments, and hospitals; and for researchers for commercial purposes, as well as compassionate access and clinical research applications. It operates in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, Israel, Ireland, New Zealand, South Africa, Switzerland, the United States, and the United Kingdom. The company was incorporated in 2018 and is headquartered in Nanaimo, Canada.
TLRY - Bull FlagAfter merger it looks like we have found a new floor at around $9.28 area. On the 1HR timeframe it looks like its starting a nice bull flag. After a big move like today we can expect consolidation before we see lift off again. If we can break the $10 resistance than the $12 resistance we could see moves all the way up to $20+ I believe. I also spotted a Morning star candlestick pattern on the 1HR which is suppose to show signs of a reversal. The first candlestick shows bears in control, then the second candlestick shows bearish indecision, then the third candlestick showing that the bulls are now in control. On the 4HR it looks like a Doji but the same rule should still apply. LMK what you see!
$TLRY The battle Is far from Over. Levels to Watch.
Will be a very Interesting day for the POT stocks in general as M&A gives a boost.
How this plays out I am not sure, but I will be trading within the levels on the chart.
Main level of interest is the Fib Golden pocket @ $10.88
Trade this with care, it will be a battle ground stock.
TRLY consolidation zone....TRLY continues to consolidate before it´s next move. We remain bullish on this #potstock, along with the sector. Levels to continue watching are 6.66 on the downside. Break of that and we have 5.33 as next zone. On the upside, a strong break of 11.60 will bring us the rocket ship, a confirmation of the bullish trend and wave 3. Keep it mellow my friends.
$TLRY with a slight bearish outlook following earning releaseThe PEAD projected a slight bearish outlook for $TLRY following a negative under reaction following its earning release placing the stock in Drift D
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possible cup and handle on TilrayNo daily bearish divergences, earnings are now past with a good shakeout. Positive MJ news coming daily so that may be the "reason".
NY state still no announcement of legalization but NJ has voted for it. NY won't be made fools of by NJ folks, believe me.
Short squeezes on the Ray are usually pretty fast. Cup and handle, head and shoulders, whatever you want to call it - it has a good R/R here
Target around $20, maybe more considering the fomo this thing gets.
Good luck
ABC BullishLong entry 7.60
Targets 2 are longer term targets and focus on targets 1 are often best to start with..then after a possible pull back T2 occurs, you just never know..
Guessing what the market will do is an educated guess..and that is all!
Pot stocks are on the move for sure
Possible stop below C..
Not a recommendation..