My analysis is completely based of market strucutre. The ticker has been making consecutive higher highs this was confirmed after a market shift when price broke and closed above 1.99 on the daily time frame. Now this does not completely confirm a bullish trend. When price broke above 2.09 high this confirmed that we have made that bullish shift to potential higher highs. For entries I did the same analysis that aligned with my daily bias. I have targets set for 2.50 area.
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Orders being collected by institutions around the $2 area, either a big move up or down. But with my stance I am bullish see you at $2.50
For the long term unfortunatley Tilray has no hope till fed legalization, although It's a good diversified company and has foot print all over the world but without a fed legalization I don't think we will see that massive uptrend, what do you think for the long term from the fundamental perspective ?
whyshoulditell
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@Shikaz, I agree with you long term. Fundamentally this stock is bearish. I'm simply looking at this short term. But I am just reacting to what the chart tells me. If price is making higher highs on the daily that probably tells you that their is some insider trading and someone knows something that we don't.
Long term is bearish but I’m just looking at this short term
MikeSpeakslow
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@whyshoulditell if it lose $1.89 it will go straight like a fire ball to $1.80, she breaks it and we talk pretty much immediately of new all time lows again. You just need the QQQ retracing a bit and that’s where the unexpected becomes reality, we break $1.50 ans that point $2 becomes a mirage. With 720M shares that’s where we start talking about RS. Too pessimistic? I think it’s a solid possibility.
whyshoulditell
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@MikeSpeakslow, looks like that $2 will hold. But I Iike your view!!