Tilray: Where is the Bottom? When's the Real Rebound?
As I expected prior to Tilray announcing their Quarterly earnings, I expected disappointment and therefore a push down. Contrary to many people being bullish based on the trend appearing of Wyckoff in nature, I focus on the balance sheets and earnings more predominantly than simply basing my decisions on trends.
In today's market manipulation, it is foolish to only look at technical patterns and indicators, but rather, investors must look at a plethora of indicators.
Given the overall somewhat poor sentiment on the stock market due to geopolitical factors, I see little reason for big money to risk money in the cannabis sector right now. With continued turmoil from CannTrust I believe Tilray may bottom out around 23.50. Always wait for a re-test after the initial break-out for stocks prior to buying.
In general, I see a very slow uptrend for Tilray (until 52.50), almost similar in appearance to MAXR. We will get higher eventually, but not anytime soon. If you can enter below 25.00 I would definitely throw 3-4% of your portfolio in the stock but don't expect significant ROE for quite a while.
Watch for a lot of false break-outs from 35-43.50 during whenever the next uptrend sha'll be.
-- zSplit
In today's market manipulation, it is foolish to only look at technical patterns and indicators, but rather, investors must look at a plethora of indicators.
Given the overall somewhat poor sentiment on the stock market due to geopolitical factors, I see little reason for big money to risk money in the cannabis sector right now. With continued turmoil from CannTrust I believe Tilray may bottom out around 23.50. Always wait for a re-test after the initial break-out for stocks prior to buying.
In general, I see a very slow uptrend for Tilray (until 52.50), almost similar in appearance to MAXR. We will get higher eventually, but not anytime soon. If you can enter below 25.00 I would definitely throw 3-4% of your portfolio in the stock but don't expect significant ROE for quite a while.
Watch for a lot of false break-outs from 35-43.50 during whenever the next uptrend sha'll be.
-- zSplit
