I was short TLRY at the beginning of the year, I am now long TLRY as it continues consolidating around 1.67. Good volume accumulation as a function of time and strong volume accumulation as a function of price. RSI looks good, fundamentalists would say good things about it but i am focused on price.
This week (Wednesday) TLRY hits the long term 1:1.618 Fibonacci Time Extension taking the 3 most significant pivots.
In addition it is also drifting within the 1:1.618 Golden Window for Trend Based Extension taking the wave 1 and 2 pivots from the 2021 top.
This is high Fibonacci confluence that the bottom may be in or near and that the next bull market could be...
Looks like a massive ZigZag has finished on Tilray. C-Wave is pretty much exactly .786 the length of the A-Wave (in log).
If the impulse from the low is completed, it's a bit too early to call for a completed correction, though not entirely impossible, if this finishes as a Zigzag down (meaning we're currently in the C-wave). Timewise it would seem too short...
The big boys will try to push it down as close as possible to $1.50. If you look at the volume profile to the left you'll see some gaps at around $1.63 and $1.60, then there's also the POC at around $1.57.
We have an unclosed gap slightly below the railroad tracks candle formation and it looks like the big boys are trying hard to fill it. Then there's a massive...
Simply put, a motive wave is a price movement in the direction of the main trend. In other words, each motive wave is a step forward during a rally. Motive waves always subdivide into five smaller waves according to certain rules.
After 5 waves we expect a corrective move . Most of the time that move is a pullback.
Then we can expect another serie of 5 moves....
As of the most recent data, the S&P 500, which represents the performance of 500 of the largest companies listed on stock exchanges in the United States, is trading at an impressive level. The index has been on a bullish trend, consistently reaching new all-time highs in recent months. This upward trajectory can be attributed to a combination of factors, including...
If you haven`t bought TLRY here:
Then analyzing the options chain and the chart patterns of TLRY Tilray Brands prior to the earnings report this week,
I would consider purchasing the 2.50usd strike price Calls with
an expiration date of 2024-3-15,
for a premium of approximately $0.55.
If these options prove to be profitable prior to the earnings release, I would...
AT A GLANCE
Simplistic Analysis: buy wave to the ceiling.
Trade Type: Touch & Go don't wait for a close.
Research Depth: technical glance only.
Earnings Anticipations: positive surprises for EPS & Revenues.
Surprise-confidence on a scale of 0-5: 2.5
Great short with limited risk and decent potential for gains.
Main PT: $2.6 *You are responsible for your entries and exits if you chose to enter this trade*
Canadian pot company Tilray Brands (TLRY) has been preparing for marijuana legalization in the U.S. to boost its business. Recent news made investors believe that federal legalization in the U.S. might be...
a top official at the Department of Health and Human Services released one of the most consequential announcements ever made at the federal level concerning cannabis prohibition. The agency formally recommended that cannabis be moved from Schedule I of the Controlled Substances Act, a classification for drugs that have a high potential for abuse and no...