Can TLRY continue the momentum and is the news buyable ?
TLRY jumped 10% in two trading days following the announcement of "gummie beer"" by
its subsidary Sweetwater Brewing. Traders who trade TLRY seem impressed and that is what
counts. Objectively, a gummie product containing alcohol seems to be a nonstarter given
regulatory hurtles and then marketing of familiarity. No doubt users could titrate the desired
effects as easily as liquid alcohol consumption. The chart of TLRY is not the best. Price
has surged to the overvalued zone of between 2 and 3 deviations above a mean VWAP anchored
last week. That is to say it may be overbought. The indicators are okay showing relative
strength in two-time frames over 50 but under 80 while the MACD K/D lines are rising and
parallel. I will add this to my watchlist for now. I am not yet ready to take a hit.
its subsidary Sweetwater Brewing. Traders who trade TLRY seem impressed and that is what
counts. Objectively, a gummie product containing alcohol seems to be a nonstarter given
regulatory hurtles and then marketing of familiarity. No doubt users could titrate the desired
effects as easily as liquid alcohol consumption. The chart of TLRY is not the best. Price
has surged to the overvalued zone of between 2 and 3 deviations above a mean VWAP anchored
last week. That is to say it may be overbought. The indicators are okay showing relative
strength in two-time frames over 50 but under 80 while the MACD K/D lines are rising and
parallel. I will add this to my watchlist for now. I am not yet ready to take a hit.
Trade active:
TLRY still rising so I will chase and enter long.
Trade active:
TLRY topped out at a 4% ROI today. Took off 1/2 of the position. Will reload the half back if there is a decent pullback and continuation.