TLRY trade ideas
Tilray possible .618 fib targetHey everybody, If you enjoyed this quick analysis leave a thumbs up or comment your thoughts below!
We can see that the 10 and 30 moving averages are currently acting as support and that the price is at the top of the descending channel which could be a possible bull flag, and I have my targets set at the beginning of the flag and my next target is set at .618 fib which we saw act as a daily support back on March 2nd.
a Dancer turned 36k to 1.5 million in 18 months, I explain howWhat is the Darvas Box Theory?
Darvas box theory is a trading strategy developed by Nicolas Darvas to target stocks using highs and volume as key indicators. Darvas developed his theory in the 1950s while travelling the world as a professional ballroom dancer. Darvas' trading technique involves buying into stocks that are trading at new highs and drawing a box around the recent highs and lows to establish entry point and placement of the stop-loss order. A stock is considered to be in a Darvas box when the price action rises above the previous high but falls back to a price not far from that high.
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TILRAY JULY Forecast **13% BUY
81% HOLD
6% SELL
Why are so many people holding? They know Tilray will receive support increasing the market value to near pre-covid ($20) however the uncertainty is still at an extreme level, with that in mind Tilray's "fair value" is still set at a steady $15. Tilray will reach a $10 to $12 in July-August. I mean I guess... i dont know im im pretty drunk
OPENING: TLRY SEPTEMBER/JULY 6/10 LONG CALL DIAGONALBack to the "Weed Well" immediately post earnings with 30-day still ginormous at 198% while I wait for June opex ... .
Metrics:
Max Loss: 2.89/contract
Max Profit: 1.11/contract
Debit Paid to Spread With Ratio: 72.2%
Break Even: 8.89 versus 10.01 spot
Notes: Extrinsic collected with the short call far exceeds that in the long, so I make money if it just sits here or does anything but drop below the break even at 8.89. If it doesn't approach near max at July expiry, I'll look to roll out the short call for additional cost basis reduction.