TILRAY TO ASSIST IN YOUR VOAYAGE TO A HIGHER STAGE MID TERM IDEA
High-margin medical cannabis agreements in Europe represent critical waypoints on road to conquer the U.S., bolstering the company’s future balance sheet and putting it on firm footing with European regulators.
As in the U.S., legal recreational cannabis remains on the horizon in Europe, where a combined population of more than 500 million in the U.K. and European Union makes it a lucrative proposition.
News are coming soon for Tilray push into the U.K., Sweden, Poland, Luxembourg, and China, with deal discussions ongoing in India. Tilray will begin distributing even in Luxembourg and businesses pushing into Poland by the third quarter of this year.
In China, the group will have a distribution agreement for wellness products with CBD—a non-psychoactive chemical in cannabis that is used to treat pain and anxiety, among other conditions. A similar agreement is under development in India.
This has the potential to be the Tesla of (Medical) Cannabis and if we can wait for it long term to start making profits then until 2030 we may see new ATH exceeding expectations.
Currently (after a massive short attack) ended up at the current low tens price levels where it can be an accumulation opportunity rarely seen with this potential. .
Enough with the (boring) fundamentals..
Technicaly speaking looks like a bear until it isn't. I will not go through RCI Stochastics MACD or even volume and other indicators which usualy produce false signals depending on the time frame you are looking at. Besides if we are about to start an Elliott wave 5 one may argue that most indicators give pointless divergencies in wave 5 and are only a good consultant up to wave 3.And regarding the volume smart money usualy buy or sell AM or PM so they play/confuse the algos in counting the actual daily volume.
Anyhow I will not go through elliott either since the waves count is no count until they count. Besides Elliott experts say that in commodities there is an exemption and that is: wave 5 may be larger than wave 3. On another note with AI machine learning 90% of MM trading done by Artificial inteligence so maybe no 5 waves exist no more but only 3 waves. and wave 3 may be an Arc that after it bursts shit happens.
So like I said, techicaly speaking looks like a bear until it isn't, however seems to me that we might be near a C bottom of a bullish ABC pattern at low tens (possible Wyckoff accumulation zone or V shape recovery instead - nobody knows - and this is why always better to buy shares instead of gambling with options - it's a Fugazi after all - ) hence Tilray may strongly reverse from here without prior notice.
Remark: This is my first and last idea. I have to continue my voyage. Stay strong. Stay Bullish!
As in the U.S., legal recreational cannabis remains on the horizon in Europe, where a combined population of more than 500 million in the U.K. and European Union makes it a lucrative proposition.
News are coming soon for Tilray push into the U.K., Sweden, Poland, Luxembourg, and China, with deal discussions ongoing in India. Tilray will begin distributing even in Luxembourg and businesses pushing into Poland by the third quarter of this year.
In China, the group will have a distribution agreement for wellness products with CBD—a non-psychoactive chemical in cannabis that is used to treat pain and anxiety, among other conditions. A similar agreement is under development in India.
This has the potential to be the Tesla of (Medical) Cannabis and if we can wait for it long term to start making profits then until 2030 we may see new ATH exceeding expectations.
Currently (after a massive short attack) ended up at the current low tens price levels where it can be an accumulation opportunity rarely seen with this potential. .
Enough with the (boring) fundamentals..
Technicaly speaking looks like a bear until it isn't. I will not go through RCI Stochastics MACD or even volume and other indicators which usualy produce false signals depending on the time frame you are looking at. Besides if we are about to start an Elliott wave 5 one may argue that most indicators give pointless divergencies in wave 5 and are only a good consultant up to wave 3.And regarding the volume smart money usualy buy or sell AM or PM so they play/confuse the algos in counting the actual daily volume.
Anyhow I will not go through elliott either since the waves count is no count until they count. Besides Elliott experts say that in commodities there is an exemption and that is: wave 5 may be larger than wave 3. On another note with AI machine learning 90% of MM trading done by Artificial inteligence so maybe no 5 waves exist no more but only 3 waves. and wave 3 may be an Arc that after it bursts shit happens.
So like I said, techicaly speaking looks like a bear until it isn't, however seems to me that we might be near a C bottom of a bullish ABC pattern at low tens (possible Wyckoff accumulation zone or V shape recovery instead - nobody knows - and this is why always better to buy shares instead of gambling with options - it's a Fugazi after all - ) hence Tilray may strongly reverse from here without prior notice.
Remark: This is my first and last idea. I have to continue my voyage. Stay strong. Stay Bullish!
Trade active
Comment:
I had been waiting since February to post this idea waiting to catch the falling knife at the exact C bottom. Seems that caught the falling knife at 13.41$ w/ close at 13.93$ as per posted idea. Let's see if C will hold.
Comment:
Pullback to retest previous resistance now turned support. 7 Day moving average currently at 14.77$ should hold.
Comment:
Pullback from $23 to new support range at $16. That should hold for the next leg up.
Trade active:
Hit major support at $15.41 (200 day moving average) forming a belt hold bullish candlestick pattern on the daily. Added 900 shares here.
The presentation will begin at 8:40 AM ET.