Could have shorted TLRY just about any time the past twelve days, and you would be in the green right now.
I singled out TLRY as a possible short opportunity several days ago.
$Cambria Cannabis Etf(TOKE.US$ $Advisorshares Pure Cannabis Etf(YOLO.US$ $ROUNDHILL CANNABIS ETF(WEED.US$ $Etfmg Alternative Harvest Etf(MJ.US$ $Advisorshares Trust Pure Us Cannabis Etf(MSOS.US$ $ADVISORSHARES MSOS 2X DAILY ETF(MSOX.US$ $Bank Of Montreal Microsectors Cannabis Etns(MJJ.US$ $Bank Of Montreal Microsectors Cannabis 2X Leveraged Etns(MJO.US$ $Cannabis(BK2997.US$
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Trade the trends via technical, fundamental, and macro analysis. Day Trades, swing trades, and long-term investments.
16KFollowers
2943Following
28KVisitors
Follow
iamiam : it's a good short. but this is a trend change. from a bearish stock to a bullish stock. the entire sector turned this year. it's a bright future once we get through the chop.
MindOverMatter : Expected drop and looks like a good buying opportunity next quarter will be more profitable than last.
SpyderCallOP iamiam: You could be right. It appears that the big weed companies might be forming a base. They have held themselves up since last June. But the long-term trend is still in place. Technically speaking, we need to see more upside to change the long-term downtrend I to an uptrend.
We have seen these co.panies rally big time in the past. But they always would crash back down. Just look at the earnings reaction from TLRY. Personally, I am a fan of the industry. But I'm not a fan of investing in the companies. At least not until their stock prices perform a little better.
SpyderCallOP MindOverMatter: You could be right. They have a great balance sheet. Their revenue has been steadily increasing each quarter since going public. They are one of the biggest players in the industry.
These are all great looking aspects. But the company has yet to turn a profit or a positive quarterly income. The supply and demand situation only gets worse as more states legalize.
Maybe if their revenues continue their current trend, then they could have a profitable quarter. Then, I might consider it a good buy.
MindOverMatter SpyderCallOP: I agree
iamiam SpyderCallOP: long trend just taking over. should bounce around a little more before the big run. start of summer maybe middle.
SpyderCallOP iamiam: I do like that volume build-up. But the way I'm looking at the charts is a bit different. The way I am seeing the charts is, the very long-term trend is down. The long-term trend is down. The medium-term trend is down, but the price had recently climbed out of the long-term trend so that is a plus. The bottoming pattern and the fact that the short-term picture is showing a base forming is very promising.
Personally, I would need to see the price climb out of the current basing pattern before I would consider jumping in. Or at least higher highs and higher lows above the base. But then again, at that point, TLRY will be a couple hundred percent off of its all-time lows. I could be missing out on those gains, but I still want to play it safe.
SpyderCallOP iamiam: This could possibly be the start of the trends changing. I just need to see a little more to be sure.
iamiam SpyderCallOP: that's how most people are. There's nothing wrong with it. I just like to find trend bottoms, and I'll wait out the volatility.
SpyderCallOP iamiam: Everybody has their own method. I am more of a swing trader, so my method involves less waiting most of the time. I do invest long term, but 90% of my transactions are short-term swing trades.
View more comments...