TLRY - A WEED Stock That Can Get Really High

Nice setup on TLRY here that has been correcting from a powerful rally for some time.

On the previous bounce price tagged the 200ma and completed an ABC correction to 0.618. Here the same thing is happening again - price has today bounced off the 200ma and completed a 0.618 ABC correction.

Also price is approaching 1.618 fib time from the two previous peaks.

This is a long term hold and I've bought a LEAP ITM call option here. IV was around 75, high delta.

This stock is a real firecracker if timed well.

Not advice.

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TLRY having a green day in a sea of red. Its a good sign.

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Up 2% pre-market. Maybe a bounce incoming. We'll see.

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Price reacted negatively to the 200ma. If price bounces it will be interesting to see how it reacts to the 200ma from the downside.

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4hr and D RSI on or at lowest point for a year and into oversold so although price can go lower, good chance there will be a good bounce if not a reversal down the road.

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Price wicked through CDE 1:1 and is holding above. Good chance it reverses here.

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There are actually two 1:1's here and price has almost tagged both. Perhaps price will tag the second and maybe make a LL, but then with RSI D oversold, probable a bounce to a fib will be following.

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My slant has changed on TLRY since this sell off. Looking at the W can see larger bearish candles indicate price is in a continuation pattern to the downside.

I will now be looking for a bounce to exit, and re-evaluate an entry some other time.

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Price is bouncing here.

A death cross looks ominous now and perhaps price will tag 200ma around that time.

I wouldn't be surprised if there is an upside fakeout before rejection. I will be exiting in this area and looking to buy again further down the road.

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Bullish divergence on the D RSI, but price now looking like a selling climax bottom is coming.

No bounce came and I will hold the position and add to it in the $8 area if the gap gets filled there. Should be very oversold by then.

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$8.5 will also complete and ABC 1:0.618 from the top.

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24% move at the open - this is now one to hold and add to, not sell.

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I think TLRY could fill this gap, but I really like this stock so I'm not selling anything. I'll buy more if the gap fills.