Tinley at a Crossroads
Tinley seems to be at a cross-roads given it's laterally moving towards an exit out of a 7 month long descending triangle. Despite the interim gains and subsequent lateral movement, this could signal a trend reversal. If it can break the descending triangle and extend past the ichimoku clouds, we may see a larger move to 0.76 to 0.79 which is the upper limit of our macro wedge (perhaps occurring in mid to late January). If the price action strongly breaks trend and exits its 2+ year macro pattern, we could see a bull run taken us to $3.5-$5 although we can visit this theory after we break trend. In addition to the current chart analysis, indicators are showing some bullish divergences in the RSI going in the correct direction, hot stochastics, and our MACD crossing the signal line.
The above analysis is supported by the imminent news anxious Tinley investors are awaiting: licensing at our Long Beach facility, deals in Nevada, Canada, and New York in addition to our co-packing announcements, celebrity endorsements, and expansion of our Beckett's line. Finally, there has been some serious due diligence by investors to confirm (on site) that they are pushing a healthy amount of product, scaling through California rapidly, and conducting serious brand awareness with their presence at events nearly every day of the week.
The next 6 months will be fun...truly.
The above analysis is supported by the imminent news anxious Tinley investors are awaiting: licensing at our Long Beach facility, deals in Nevada, Canada, and New York in addition to our co-packing announcements, celebrity endorsements, and expansion of our Beckett's line. Finally, there has been some serious due diligence by investors to confirm (on site) that they are pushing a healthy amount of product, scaling through California rapidly, and conducting serious brand awareness with their presence at events nearly every day of the week.
The next 6 months will be fun...truly.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.