RE:Imagine if we were still affiliated with TilrayGood find....but you may need to boil this down to just action items for this board as it may be beyond the scope of some to figure out what they should do....
Basically, keep a very close eye on TLRY.
When that goes bust in the next few days, the massive pull-back will drag the sector down. Not as much as TLRY & APHA, but still down to a degree.
The sh!t's about to hit the fan and huge money will be moving around MJ in the next while. Millions are about to be made and lost.
But these guys don't care about the bigger picture so being specific to N.
Now that there's been more volume in N, shorter TA timeframes can be employed too. Looking at intra-day views aong with the daily, I would have my stop loss set at .345
If it can hold .345 when TLRY busts, the current uptrend is still intact and I'd hold.
But if triggered, I'd look to buy back on the dip (.27 - .31?) to ride it back up to the .41 target.
Longer term bulls should actually be happy with a pullback/consolidation to anything above .345
It would strengthen that support lvl and cool off the approaching overbought condition (daily RSI=68) if there's just 1 more green day.
Just look at the daily chart going back forever....N has NEVER remained overbought more than 2-3 days max.
and what to do beyond .27 & .41?
gotta wait to see what the chart looks like when it happens, but the next targets upward should be .53, then .71.
Next support level downward should be....ahhh, you guys never like hearing the downsides so I'll skip that for now.
be careful out there and don't give back any gains pls.
It's about to get nuts and it's gonna be great!
Nocappp wrote: Before the Quebec sexy nurse party. We would have ran hard the last few days. Tilray is up 200 percent. Why?
I did a lot of research tonight as I wanted to know why Namaste has so much volume the last few days and if there was MORE to this current run. Everything is running. Is it just US related or more. This is my conclusion:
A Merger Arbitrage with Tilray & Aphria:
Merger arbitrage, often considered a hedge fund strategy, involves simultaneously purchasing and selling the respective stock of two merging companies to create "riskless" profits. Because there is the uncertainty of the deal being completed, the stock price of the target company typically sells at a price below the acquisition price. A merger arbitrageur will review the probability of a merger not closing on time or at all and will then purchase the stock before the acquisition, expecting to make a profit when the merger or acquisition completes.
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A Gamma Squeeze is happening to Tilray. This rise has a direct correlation to other MJ stocks running. Tilray also just signed a massive deal in the UK.
https://www.google.ca/amp/s/www.fool.com/amp/investing/2021/02/09/tilray-strikes-deal-to-export-medical-marijuana-to/
A “Gamma Squeeze” is an outcome based on an investor using many options to drive up the prices of select stocks due to option sellers needing to hedge their trades on the underlying stocks.
The Process
1. The squeeze can begin when a large investor, typically referred to as a whale, buys short-dated call options in a frenetic pace of stocks that they typically own.
2. The banks or brokers that sell the call options will typically buy the underlying stock so that they have very little or no net exposure. The more call options the investor buys, the more shares the brokers that sold the options will have to buy to ensure they are net flat. Brokers and dealers are motivated by the commissions and do not want to hold a trade either long or short.
3. The option purchases force the dealers to buy the underlying stock, which can push the share price higher. If pulled off, this creates a positive feedback loop, thus can drive underlying stock(s) price higher for a period of time. In a roundabout way, the dealers must buy more and more of the underlying. All said and done, this is the Gamma Squeeze.