Tilray bottom and breakout

2019년 6월 23일

TLRY appears to have found a bottom and printed a confirmed breakout. I think now is a good time to enter TLRY if you've been sitting on the sidelines since my short call in Sept. 2018.

I don't see much resistance until about $67 - $70, so that would be my first target. Consider taking a little profit off the table there.
After that we've got some noticeable support that will act as resistance at $100, so that would be target 2. Consider taking a little profit here as well.
From there, I'd just hold until $160 is broken and wait to see how price reacts through the $160 - $300 range.

Tilray is still such a young company in an extremely profitable, yet budding, industry and I think every effort will be made to reclaim the $300 price point.

I'd also like to think TLRY would consider a stock split sometime in the near future following the $300 price point being reclaimed due to their many joint venture agreements and a need to increase liquidity.

Let's wait and see how this plays out, but I'm bullish on TLRY in the immediate future.


***Off topic thought: I think a re-brand would serve Tilray well. The reason being is simply for aesthetic purposes. I don't think the current brand name resonates with people well enough. Besides, everyone knows that super successful companies always pay homage to the esoteric and occult, and I'm not seeing any elements of that in Tilray. Just a thought, take it for what it's worth.