TLRY is it still a buy? SHORT
Updated
TLRY dropped from a Head & Shoulders in the winter into the lows in June and July with a lot
of trading and accumulation as shown by the volume profile and its POC. Today TLRY
took off
for a big gainer of a day. But why and
can it continue, The 5-minute chart shows plenty of volume support for today's move.
The 4H chart shows a scorching rise into the third standard deviation line above the mean VWAP
anchored into the earnings date two weeks ago which was a miss. Fundamentally, TLRY has
been buying shares of BUD and other beer brewing or distribution companies. If i were an
investor, I would be concerned. TLRY should focus on its core product and get good at
making cash and not burning it. While the MACD is still bullish and the mass index indicator not
yet triggering a reversal, I see a drop happening from the pop. Fundamentally TLRY
does not deserve the level of enthusiasm that it received. The EFT MJ had a big uptrend for the
day then printed a bearish engulfing candle on the close
as traders took their profits off the table.
In consideration of all of this, I think TLRY is a very safe short trade. I will zoom into the
5 minute time frame and go short from a high pivot. expecting a 10-15% return for the
remainder of the week as the flush or at least drop kicks in especially from inexperienced
traders buying in while TRLY is running high without reason into the greatly overbought zone.
I suppose it could pump from a short squeeze instead of leveling out and dropping, so
my trade will be small and risk constrained. Is you have any alternative idea why this
rose so much please let me know!
of trading and accumulation as shown by the volume profile and its POC. Today TLRY
took off
can it continue, The 5-minute chart shows plenty of volume support for today's move.
The 4H chart shows a scorching rise into the third standard deviation line above the mean VWAP
anchored into the earnings date two weeks ago which was a miss. Fundamentally, TLRY has
been buying shares of BUD and other beer brewing or distribution companies. If i were an
investor, I would be concerned. TLRY should focus on its core product and get good at
making cash and not burning it. While the MACD is still bullish and the mass index indicator not
yet triggering a reversal, I see a drop happening from the pop. Fundamentally TLRY
does not deserve the level of enthusiasm that it received. The EFT MJ had a big uptrend for the
day then printed a bearish engulfing candle on the close
In consideration of all of this, I think TLRY is a very safe short trade. I will zoom into the
5 minute time frame and go short from a high pivot. expecting a 10-15% return for the
remainder of the week as the flush or at least drop kicks in especially from inexperienced
traders buying in while TRLY is running high without reason into the greatly overbought zone.
I suppose it could pump from a short squeeze instead of leveling out and dropping, so
my trade will be small and risk constrained. Is you have any alternative idea why this
rose so much please let me know!
Trade active
TLRY dropped 5% stop loss moved to lower than break even now a risk free trade . Looking for more. running the full position.Trade active
Another drop and bigger than yesterday. Holding for now, taking off 50% if tomorrowis a neutral or up day in the general market. If the general market is down trending
i will hold the whole position.
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