TLRY Emerges From A High Tight Flag
Tilray ($TLRY) emerged from a high tight flag pattern today in impressive fashion. The cannabis sector has been extremely hot the past few months and Tilray looks poised to be a leader in this group. After doubling from $10 to $20, it has moved sideways in a tight and orderly fashion. Big volume came in today, indicating money is still moving into this stock and shareholders are still bullish on Tilray. I took a position this afternoon with a stop loss under recent support levels to keep my risk in check. If TLRY turns against me, I'll take my small loss and move on. If it rockets higher, I'll profit handsomely. I'm still weary on the general market, but if I see a quality set up I'm inclined to take it, as long as I keep my risk in check.
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Full Disclosure: I currently own TLRY.
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