Tilray has seen a lot of bearish trends these past 7 months. Since it surged to $300 a share in September, it has seen more than a 87% decline to $38 right now, I don't think we will be here for that long and have been looking for a reversal signal, and I believe its here. We shouldn't jump in without confirmation, but if this candle stays very small I believe we will see a strong reversal from the bulls, indicating they are buying at these oversold levels. I also believe if we do reverse here, we could see shares trading at $70 in less than 2 months. The $78 target is derived from a fib retracement from the high we saw in January at $105 to the bottom we made today.
I wish you good luck on your trades!
-Trader Demo
I wish you good luck on your trades!
-Trader Demo