Tilray - Follow the rays


$TLRY went through a rough year. The greed/fear cycle played itself out, and here we are... back where we started.

$34 is a major support, and we just double tapped it and started an upward trajectory. Based on the volume profile of the stock, I think we're headed back towards an equilibrium, right around the mid 70s. We'll consolidate at 50 for a bit, but then I expect us to move quickly up to about 78, where another area of consolidation will occur. We may see some brief consolidation around 60, but it'll be short lived as it's not a major zone.

Follow Tilray's rays. Low created a high, a higher low and a higher high. That's an uptrend, my friends. Keep stops tight, but I believe we've found the bottom at 34. The uptrend was confirmed by a last kiss, which is icing on the cake.
Jul 17
Trade closed: stop reached: Stop triggered at 46. Waiting for a return to that zone before finding another entry. It does look like we've entered an uptrend.
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