Time to Buy More of TLRY These are the facts:
1.Look at the chart for the daily time frame, or keep track of every day's high sp and low share price,
As of today, we are seeing a lower low and lower high on the daily chart.
High- $20.52
low- $19.48
And on the weekly chart, TLRY is 7 day downtrend.
Presently, the sp range/support and resistance is:
a high of $23.82 on June 28
and today's low of $19.48
That is a high/low range of more than $4
Now, some people are tempted to buy now....
hmmmmm
and go long. But consider this:
1. TLRY is on a weekly downtrend
2.And monthly range---
3. The moving average is.
20 day is $20.42
50 day is $21.21
100 day is $21.66
200 day is $22.51
4. There is a major support on the weekly time frame at
$18.34
5. TLRY management wants to issue more shares, which will likely result in the dilution of the share price.
6. TLRY's expected earning date is August 17
Will earnings be better or worse???
I will wait to add until after earnings, after the decision whether to issue more shares.
Until then, I 'll daytrade and swingtrade TLRY.