Double Top?
Updated
Double top or can this turn into a double bottom?
I have the strange feeling that the DEA may not reschedule due to lack
of data or some other bs lame reason. If this happens, I can see this double
top playing out and stock dropping back down to the $4-$5 area.
If the DEA does reschedule marijuana - I can see a double bottom playing out
from neckline and stock going to $16-$20
If stock drops close to the neckline in the next week or two, I'm going to buy a
options straddle into July and possibly Sept. ATM long straddle, perhaps even OTM too.
This is a news driven stock, so what ever the DEA does is going to create a shit
ton of volatilty.
I own shares at around $6.5 average.
I have the strange feeling that the DEA may not reschedule due to lack
of data or some other bs lame reason. If this happens, I can see this double
top playing out and stock dropping back down to the $4-$5 area.
If the DEA does reschedule marijuana - I can see a double bottom playing out
from neckline and stock going to $16-$20
If stock drops close to the neckline in the next week or two, I'm going to buy a
options straddle into July and possibly Sept. ATM long straddle, perhaps even OTM too.
This is a news driven stock, so what ever the DEA does is going to create a shit
ton of volatilty.
I own shares at around $6.5 average.
Trade active
Starting to think this may be an inverse head and shoulders pattern. Gonna possibly buy 1000-1400 more shares tomorrow - let's see how we open, I would like for this to drop a bit further for me to get involved with options, If so, looking at the Sept 2024 and Jan 2025 $10 thru $12 calls - I did enter 
TLRY call options a few days ago, which are looking good.Trade active
market looking dumpy - didn't enter anything yet. may move spy puts winnings into this trade.
gonna wait til friday perhaps and smoke a big joint.
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