TLRY:🍀An In-Depth Analysis Of TLRY🍀Technical Analysis:
TLRY broke out from two different “Classic Patterns” corresponding to two different time frames, the daily chart, and the 4-hour chart.
In the daily chart, we can see a "Falling Wedge" pattern and in the 4-hour chart, we can see a "Descending Channel" pattern.
Also, the price is testing for the third time the pattern's base.
As a start, we need to see the price move above $ 14.
From here we can see a strong increase in the bullish momentum.
Fundamental Data:
In August, Tilray bought the majority of convertible notes of a U.S. cannabis retailer called MedMen (MMNFF).
The retailer has 21 licenses and 25 retail operations across California as well as in Chicago, Las Vegas, and Boston.
Further, the deal will give Tilray the ability to convert into 21% of MedMen’s equity in the future.
Over the past year, Tilray acquired a U.S. beverage company: SweetWater Brewing Company.
It also acquired Manitoba Harvest — “the world’s largest hemp food company”
So it all depends on when the full legalization of cannabis in the US takes place.
With this Tilray hopes to become an American-Canadian cannabis company.
Targets:
14.00
16.50
19.00
22.00
30.0
Thank you and Good Luck!
