fasten your seat belts, the rocket is ready for take ofthis is not an analysis, more a very important information I want to share with you. Please keep in mind, this is not a trading advice.
As reported in several German newspapers, the future German government is planning to legalize cannabis.
Here are some articles I found (only in german, but google translate might help)
www.spiegel.de
rp-online.de
www.n-tv.de
2HQ trade ideas
Trade Idea: TLRY Trend ReversalTrade Idea: TLRY Calls
Major Confluences:
- 9/21/50 EMA Crossover on the Daily time frame.
- Strong break above major resistance trend line.
- Major Buying Pressure above the 9/21 EMA's. Prev. close had over 2X the avg volume.
- Stochastic overbought, will be watching for a pullback around the 12.50 price level to hold for an entry on a shorter term day trade.
Disclosure: This is not financial advice and is to be considered my own personal opinion.
Big Moves SpeculationFundamental:
1. With indication of legalization, TLRY could potentially catch up nice momentum here.
Technical:
1. Clear breakout, This might push TLRY to previous highs. I've taken entry on dump after breakout.
Note:
Currently posting only TP1
I would like to see the sector movement as it approach the target
$TLRY volume study...I like to use the VWAP and volume bars to help identify areas of support and resistance. This is something I am working on is identifying areas where a stock could blow through based on a lack of volume in the price range...let's see if we breakout if we go through fast to $13.50's. Good luck to all!