Canada's Marijuana industry has finally learned how to beat the competition.
They have very good prices and now are defeating the black market.
With the entire product line available to every vendor. They will have a great opportunity to create the SECOND green rush.
Market conditions are perfect for a very lucrative rally.
Biden announcing his 3 trillion dollar bailout will destroy DXY and rally equities and commodities.
My plan is simple. Buy TLRY at 17.88 hold until 20 and double down if there is high volume.
If TLRY pulls back to 16, I'll double down there and max loss is at 15.
As TLRY approaches 22 i'll cut half my trade to take a profit. At 23 I'll re-add and hold till 25, and sell half again. repeating this process until I reach $30 once at $30 I will re-assess.
This process is counter-intuitive as holding and subtracting share count isn't the normal strategy or conventional one however by consistently taking profits. I will protect myself against risk of taking a larger loss later if this position ends up turning around quickly.
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I will sell completely if the stock makes a lower high and a lower low standard dow theory.
If there is also an RSI Divergence I will switch my direction to sideways instead of bullish, if it creates a second lower high I will switch to shorting TLRY 2-3 months from now.
Lets see what happens.
They have very good prices and now are defeating the black market.
With the entire product line available to every vendor. They will have a great opportunity to create the SECOND green rush.
Market conditions are perfect for a very lucrative rally.
Biden announcing his 3 trillion dollar bailout will destroy DXY and rally equities and commodities.
My plan is simple. Buy TLRY at 17.88 hold until 20 and double down if there is high volume.
If TLRY pulls back to 16, I'll double down there and max loss is at 15.
As TLRY approaches 22 i'll cut half my trade to take a profit. At 23 I'll re-add and hold till 25, and sell half again. repeating this process until I reach $30 once at $30 I will re-assess.
This process is counter-intuitive as holding and subtracting share count isn't the normal strategy or conventional one however by consistently taking profits. I will protect myself against risk of taking a larger loss later if this position ends up turning around quickly.
------------------
I will sell completely if the stock makes a lower high and a lower low standard dow theory.
If there is also an RSI Divergence I will switch my direction to sideways instead of bullish, if it creates a second lower high I will switch to shorting TLRY 2-3 months from now.
Lets see what happens.
Comment:
To respond to the comments, I think TLRY could go sideways from here possibly creating a sideways motion and this would potentially happen as profit taking occurs and DXY rises causing SPY to also go sideways. We can see what happens there after. We are getting closer to WEED earnings and I believe they'll have a good earnings.