TradingView
balinor
Feb 2, 2024 9:15 AM

Breakout Long

NASDAQ:TLRY240
Tilray Brands, Inc.NASDAQ

Description

⋅
Tilray crossed bearish trendline (purple) and entered again into side channel 1.93$-2.10$

I think price will move inside the channel for some days berfore breaking out
First target to reach should be the purple dotted line around 2.40$

Short term channel is bullish (green) but long term one remain bearish (red channel)

Comment

⋅
Breakout failed, price cannot stabilize into side channel
Yesterday Tilray reached the bottom of the channelup at 1.81$

Now it can recover or exiting down heading to 1.62$

Comment

⋅
Yesterday price tested lower support trendline at 1,71$

In the good scenario price rise breaking purple trendline as confirmation

In the bad one price go lower than 1,71$ nullifying current upside channel and going down to 1,60$

Comment

⋅
Cannabis legalization in germany from 1 april

Comment

⋅
Flying on reschedule news
Trend LinesSupport and Resistance
Comments
bymnaraz
⋅
this stock is just fraud not buy if you buy you will wait unlimited time , to earn money :)
areyouentertained
⋅
Today we have gone up. Is this the start of a change in trend
balinor
⋅
@areyouentertained, until price move inside channel there is nothing to worry because is already an uptrend
areyouentertained
⋅
@balinor so we are on track for upward momentum?
balinor
⋅
@areyouentertained, bottom was touched yesterday
I think price will go up for some time
Shikaz
⋅
Fundamentally does that company have any hope ? I have been holding for sometime but I am not sure if this will do anything, positive US news will impact US companies, I doubt it will do anything to Tilray, they need to stay afloat till federally legalized !
What are your expectations for that tick ?
balinor
⋅
@Shikaz, Tilray was I mistake for me
I did not set stop in time
Anyway I think it will recover to my entry point 2.88$ this year
I do not suggest this stock
For a long run better to go for Eli Lilly or novo nordisk because obesity drugs will growth a lot next years
MR888
⋅
Nothing new. Always down.
balinor
⋅
@MR888, Yes
Tilray continue to put new outstanding shares by private placement and price will decrease accordingly
However I think it is the only cannabis company with a future because of beer and chocolate stuff
More