I've had targets of $3.5 and $0.5 for a while but now its time to look again.
The key to this puzzle I think is the recent expanding pattern which due to moving further away from trend than any previous correction shows that it is probably the major pivot.
And so the correction should be a running flat which is typical in a flowing trend.
Last week printed what appears to be a shakeout reversal pattern (wick) through the B wave resistance @ $4.78 and now today's PA seems to have confirmed that with the downtrend continuing against indexes which are on a bounce today.
These recent landmarks have added more pivots and as you can see there is quite a cluster around the 0.54 - 0.65 area.
And so TLRY is probably in a long term cycle ABC from ATH @ $300 down to 0.54 - 0.65 area. Very very wild! And its not going to stop @ $3.5 I dont think, or the lows.
I will be looking to open a small short position on a re-test of resistance for high RR. And I will use options for defined risk, just in case something unexpected happens.
But the main goal is to get VERY long much further down the road.
And if TLRY hits $0.6 and if that concludes a cycle ABC from ATH and if a typical X wave follows (or of course it could be a bull run but lets stick with an X wave for simplicity) then a retracement + typical overshoot to magic ratio 0.75 would see a bounce to somewhere around $61. That would be a 10000% increase!!!
And this chart loves going on mad rallies! 😄
See you at $0.6.
Not advice.
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Expanding flat* not running flat.
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TLRY moving down and 1st target $3.5 coming up!
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First target hit 🥳🥳🥳. See you @ $0.6.
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Indexes and pretty much everything up except oil today. TLRY down.
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I have made on new LONG thread on TLRY. Link below.
I suspect it actually did want to make its almost annual February run but the market was so weak it had no chance. With the way things are, anything is possible.
dRends35
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@NoOneWhoIsSomeone, Anything is possible but yet there is always a correct answer that often can be seen in advance. Thanks for the comment.