Is TNY trading in a Bull Flag or Symmetrical Triangle?
Bullish flag formations are found in stocks with strong uptrends. They are called bull flags because the pattern resembles a flag on a pole. The pole is the result of a vertical rise in a stock and the flag results from a period of consolidation. The flag can be a horizontal rectangle, but is also often angled down away from the prevailing trend. Another variant is called a bullish pennant, in which the consolidation takes the form of a symmetrical triangle. The shape of the flag is not as important as the underlying psychology behind the pattern. Basically, despite a strong vertical rally, the stock refuses to drop appreciably, as bulls snap up any shares they can get. The breakout from a flag often results in a powerful move higher, measuring the length of the prior flag pole.
It is important to note that these patterns work the same in reverse & are known as bear flags & bear pennants, but the bullish volume recently indicates that it's unlikely to result in a bearish outcome...
Only time will tell, and when it comes to Tinley Beverages, "My favorite time frame for holding a stock is forever."
Warren Buffett
On a Macro level Tinley has held their share price impressively well comparable to "any cannabis related stock" over the past 4 years boasting roughly 523% gains...
On a Micro level we're potentially seeing a trend change from bearish to bullish, indicators that support my narrative is the recent Triple Bottom pattern that's linked to this chart. Also, the increase in buy volume indicates that short sellers are either losing money in their positions to the downside, or they're running short on shares available to short, or they've simply reached their target buy in price...
Keep in mind hopium is a schedule 1 narcotic & has killed many Moon Boys in the cannabis sector during 2019.....
It is important to note that these patterns work the same in reverse & are known as bear flags & bear pennants, but the bullish volume recently indicates that it's unlikely to result in a bearish outcome...
Only time will tell, and when it comes to Tinley Beverages, "My favorite time frame for holding a stock is forever."
Warren Buffett
On a Macro level Tinley has held their share price impressively well comparable to "any cannabis related stock" over the past 4 years boasting roughly 523% gains...
On a Micro level we're potentially seeing a trend change from bearish to bullish, indicators that support my narrative is the recent Triple Bottom pattern that's linked to this chart. Also, the increase in buy volume indicates that short sellers are either losing money in their positions to the downside, or they're running short on shares available to short, or they've simply reached their target buy in price...
Keep in mind hopium is a schedule 1 narcotic & has killed many Moon Boys in the cannabis sector during 2019.....
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