2HQ trade ideas
$TLRY Tilray Resistance levels to Watch
Levels of interest for TLRY
$8.41 200ma & major pivot point
$9.00 Fibonacci Golden pocket from may high & horizontal resistance.
$9.75 major Pivot Point
$10.27 Fib 0.382 dead cat bounce level from Jan high.
$11.60 Major pivot point, which the bulls need to break to change stocks direction.
$TLRY - Bull Target $8 & Bear Target $5.3Bull Case: Double bottom Break out
Target $8
Bear Case: Retest $5.3
$TLRY Tilray Trade Setup
Very impressive move today which lead to a move to the 100ma.
Alert set for a break above resistance @ $6.75
First major target $7.10 and if conditions remain bullish and the election
outcome is favorable a move to $8.00 in the near term is not out of the question.
POT stocks remain heavily shorted and volatile so trade with care.
Remember TLRY? part 2Looks like am objective buy at the channel. Hidden bull divergence also on the 4 hr chart. Daily RSI no bear divergence yet. I like
Cannabis stock breakout?The cannabis market has had a volatile set of years with its first mania peaking in 2018 and the crash that followed.
Tilray has had a rough couple of years working off the excesses of that mania phase with the stock declining 95%.
Since March though prices have been stabilizing and are showing signs of strength.
A move to the upside will break the 2018 downtrend and be very bullish.
This is likely to me resolved in the next couple of weeks.
Looking for the right spot to add to TLRYOk, got our upper level and our pullback. Now where to buy...typically I would be looking for divergences in RSI and MACD along with a lower price for the sweet setup to buy. Price should be in the "box" or between the 61.8 and 38.2 fibs...and with a lower price we should have higher RSI and MACD. So now, this "should" be an A wave, with a B wave higher then a C wave that sets up the divergences. Impatient traders (myself included) will buy in the box, then ride the B and C wave with all the negative emotions that come with it. But it is also a "safer" trade as you don't miss out. As always, have a stop. Stop should be under the final fib, anything below that although tecnichally viable is probably not viable.
$TLRY Tilray Inc Potential resistance levels.
Beautiful bounce today off the channel trendline.
50ma resistance broken
high volume , but not not the spike to signal short covering.
Alert set for break above $6.75
Targets-
$7.00 100 Moving Average
$7.40 to monthly candle.
$8.15 Point of Control POC
The Anatomy of a BreakoutIt can be difficult to predict the breakout of a major trend, but how about the second breakout?
TLRYDid a trend based fib extension off recent Low to high back down to low.
Analysis points to the following for me:
1) TP for fib ex is 1.618 = $9.15
2) Gap fill exceeds $9.50
3) strong resistance marked off in green at $8.34
Our Stock of the Day / TLRYToday, we will share a long setup; here is the full explanation:
a) The price has broken a descending trendline after reaching a support zone and making a reversal movement
b) Currently, we can see a corrective structure making a throwback on the broken area
c) Based on that, we have set a long setup above the trendline of the corrective structure (check Entry, Take Profit and Stop on the chart)
d) We will move our stop loss into break even if the price reaches the yellow line.
e) We will risk 1% of our capital on this specific trade
f) Remember: Trade Safe, protect your capital, and always understand what you are doing!
TLRY buy the pullback!TLRY did not disapoint and is now making a correction. Correction should be between 5.17 and 5.71, lower than that and would put the pattern in question. Also like the volume distribution in that level of pricing, should be great support. Buy dips or sell short term dated calls and collect premium!
$TLRY Daily Chart X ZONE$200 -> $2 -> $20 $TLRY DAILY CHART X MARKS THE SPOT. Is it a treasure map or fools gold?
$TLRY Kamala Harris Pumps the Pot Stocks
The stock finished just below the 50MA and descending channel trendline, a break above this level
opens up the possibility of a rally to the 100ma. There is multiple horizontal levels to consider
on that journey. The pot stocks need a blue wave and the chances of that are improving.
Shorter term TLRY pathTLRY doing what it has to do...here's an updated path shorter term to what we should be looking for if it is going to blast off. On the look to moves to the 1.0 fib extension (around 5.55)....if it gets there and fails, sign of a corrective move. Above it to the first box, good news.
very close to the start of wave C (updated)we have one more pull back before we start wave C, we are currently doing wave 4 of wave c of wave B
TLRY taking off?TLRY presenting an excellent risk/reward trade...With support at $4.41 that is near the 78.6% retrace, I'm looking for it to go to 11.56 before a retrace, then break 21.05 convincingly and go to 38.25 at a minimum. After, retrace to around 21.05 to finally go to a minimum of 38.25. Has potential to spike towards 70+ if it holds this bullish pattern.
