There needs to be a higher high sp In relation to prior's day closing price
to indicate a potential reversal of a trend.
Righ now,
I can see on the chart that we have a lower high $21.15
ane lower low $20.25 or whatever
compared to Friday's sp range
so, the downtrend continues.
What you are witnessing is a falling knife?
You cannot catch a sharpe knife that's falling, meaning don't buy in because the share price will likely drop further.
Stock prices always move in waves---uptrend and pullback, contination of uptrend and pullback,
then a top out
reversal
Downtrend, bounce...continuation of downtrend and bounce....
finally, the stock bottoms, trades in a range, as smart money buys in slowly
then when the sp moves above the 100, 50, 20, 10----and there is a reversal of trend---as indicated by a chart
we have the beginning of an uptrend
TLRY has dropped below a major support of $20.70
and is testing pyschological support of $20.
then there is a lower major support at around $18.50 or see.
I am know guru or fortune teller---just using a few technical indicators and candle stick chart to identify price action and the trend.
you never buy in a downtrend---you short the stock!!