FrancescoMerlettini

#TLRY Price rebouncing from falling wedge support

Long
NASDAQ:TLRY   Tilray Brands, Inc.

Hi All, my main 3 take-outs from this analysis are the following:

1- In the 4H timeframe the price found support at around 9$, which is also an area where the historical red trendline and the lower side of the big falling wedge crossed (light blue box!)

2- Inside the bigger falling wedge there is a smaller falling wedge which has been broken on the upside. There might possibly be a pullback on the downside, but I think that it is possible an upward movement of at least 25%, which is the target of the small falling wedge, at around 11.3$

3- If we are able to reach the 11.3$, at that point, by the end of January we might be seeing the price trying to breakout the bigger falling wedge with a big up move, which should support the price staying above the red trendline and continue is uptrend outside the big falling wedge

Not a financial advice, just personal opinion. Do your own due diligence and good luck!
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