TLRY - Getting Smashed Up Good And Proper 🔨🔨🔨
TLRY falling into the abyss here and finally appears to be revealing the next significant Fibonacci point will not be a 1:0.618!
And this is why ultra volatile names like this are so dangerous because after a crash down from $300 to $2 you could be forgiven perhaps for expecting the bear market would be over.
And after an ultra impulsive bullish rally from $2 up to $66 surely this is the beginning of a bull market??
Well - no and no.
And this is why elliott wave is so important in charting. And one doesn't need to geek out into the lower time frame miniature, but it is very important to be able to distinguish motive, regressive and proregressive.
And well its interesting that most cant or wont be so inclined and end up getting REKT!
I'll admit that around $14 I thought TLRY will very likely find support on the 200DMA to get the bull run going and this would be a bottom, but breaking to the downside that was the beginning or a much more impulsive bearish phase.
And it just hasn't slowed at all and is effectively in free fall.
So I was expecting that a stock that I would like would surely be in correction and settle in the 1:0.618 area for a very deep value buy 🤔.
But "no" again. Price almost certainly has too much momentum to settle there and with stock indexes falling into a bear market so it appears a previously unthinkable bottom may be on the cards..........
A 1:1 @ $0.5.
Yes you read correctly - another 90% loss from here 🙀!
At which point I will be backing up the wheelbarrow ✨!
See you @ $0.5 🔥
And this is why ultra volatile names like this are so dangerous because after a crash down from $300 to $2 you could be forgiven perhaps for expecting the bear market would be over.
And after an ultra impulsive bullish rally from $2 up to $66 surely this is the beginning of a bull market??
Well - no and no.
And this is why elliott wave is so important in charting. And one doesn't need to geek out into the lower time frame miniature, but it is very important to be able to distinguish motive, regressive and proregressive.
And well its interesting that most cant or wont be so inclined and end up getting REKT!
I'll admit that around $14 I thought TLRY will very likely find support on the 200DMA to get the bull run going and this would be a bottom, but breaking to the downside that was the beginning or a much more impulsive bearish phase.
And it just hasn't slowed at all and is effectively in free fall.
So I was expecting that a stock that I would like would surely be in correction and settle in the 1:0.618 area for a very deep value buy 🤔.
But "no" again. Price almost certainly has too much momentum to settle there and with stock indexes falling into a bear market so it appears a previously unthinkable bottom may be on the cards..........
A 1:1 @ $0.5.
Yes you read correctly - another 90% loss from here 🙀!
At which point I will be backing up the wheelbarrow ✨!
See you @ $0.5 🔥
Comment:
This will be one of those great calls no-one else got close to. Wait and see...
Comment:
Long wick fakeout though 50Dma, probably will carry on down without much fuss.
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Priority trades, round the clock updates and a 1 hour technical video per week 😼.
Make gains, learn technicals 🚀.
$50 per month 👍🏻.
Contact: t.me/dRends35
