Nice setup on TLRY here that has been correcting from a powerful rally for some time.
On the previous bounce price tagged the 200ma and completed an ABC correction to 0.618. Here the same thing is happening again - price has today bounced off the 200ma and completed a 0.618 ABC correction.
Also price is approaching 1.618 fib time from the two previous peaks.
This is a long term hold and I've bought a LEAP ITM call option here. IV was around 75, high delta.
This stock is a real firecracker if timed well.
Not advice.
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TLRY having a green day in a sea of red. Its a good sign.
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Up 2% pre-market. Maybe a bounce incoming. We'll see.
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Price reacted negatively to the 200ma. If price bounces it will be interesting to see how it reacts to the 200ma from the downside.
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4hr and D RSI on or at lowest point for a year and into oversold so although price can go lower, good chance there will be a good bounce if not a reversal down the road.
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Price wicked through CDE 1:1 and is holding above. Good chance it reverses here.
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There are actually two 1:1's here and price has almost tagged both. Perhaps price will tag the second and maybe make a LL, but then with RSI D oversold, probable a bounce to a fib will be following.
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My slant has changed on TLRY since this sell off. Looking at the W can see larger bearish candles indicate price is in a continuation pattern to the downside.
I will now be looking for a bounce to exit, and re-evaluate an entry some other time.
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Price is bouncing here.
A death cross looks ominous now and perhaps price will tag 200ma around that time.
I wouldn't be surprised if there is an upside fakeout before rejection. I will be exiting in this area and looking to buy again further down the road.
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Bullish divergence on the D RSI, but price now looking like a selling climax bottom is coming.
No bounce came and I will hold the position and add to it in the $8 area if the gap gets filled there. Should be very oversold by then.
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$8.5 will also complete and ABC 1:0.618 from the top.
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24% move at the open - this is now one to hold and add to, not sell.
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I think TLRY could fill this gap, but I really like this stock so I'm not selling anything. I'll buy more if the gap fills.
Any comment on where we are headed? Broke the 200ma? thx
WolvesOkami
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Agree with this, the volume has volume buzz already it could break 18 this wk or max 20 this wk
waysofthemaster
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Been sitting on this for a while now. I can't even take profit until 25.00 , but I won't . It's 40 or bust for this cat. All weed stocks been down since the dems took the big house. Imagine that. And wth is going on with SNDL? Has got to be the most tickle fingered ticker in the game. Just look at the options play. That's been going on for 2 years and counting? But why?