RE:How high?Both highs and lows are set by the market, not by a line on a chart. I do realize many day traders and swing traders live and die by charting data however any of them going short on stocks because a chart reading indicated that was the best thing to do are missing longer term realities.
Tilray just released news that they picked up 8 brewries from Bud. They also acquired another Top Tier 1 company (HEXO Corp) which in itself was reporting 1/4 billion in gross sales on an annual basis. None of the new sales figures have come out in a QTR report yet but when they do they will be changing all of the fundamentals on the company.
Tilray also turned the corner from EPS negative to EPS neutral. I believe the odds that the company will turn EPS positive on the upcoming report to be high (to each their own on this).
If you want to put your investments into the hands of a chart reading then by all means, knock yourself out, many do this however for myself I like to think more as to what the future will bring and I believe that will include the following:
1) Tilray Turning EPS Positive and larger institutionals using fundamentals will move in
2) The Topic of US Cannabis Legalization coming up in the news which will bring interest and investors to the sector.
3) Seasonal traders will start coming back onto the stock as summer winds up.
I will not be so bold as to make any near or mid-term price perdictions on the shareprice however I believe the odds of the price improving going forward are stronger than the odds of the shareprice getting much weaker.
JMHO / DYODD / GLTA
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