Tilray: the decline eases, the rebound widens
Tilray dips 4.3% for the week, and the rebound off the lows widens to 13%
Tilray: the decline eases, the rebound widens
Our view last week
Tilray is in week 9 of a sell signal, and this week's picture tells a decline that is losing steam rather than one accelerating. The daily chart shows a double bottom in the 4.4 area, with an intermediate 10% rebound: the first concrete sign that selling pressure is easing. The trade is still up 16.91% since entry.
This week's summary
Tilray's rebound off the lows is widening: after last week's double bottom, this week the stock carved out a second one in the 4.3 area, with a 13% intermediate rebound, even as the weekly close stayed down 4.3%. Under the surface the picture is improving: money flow is normalizing and the ADX has dropped below 12. The Sell signal, under management for ten weeks, keeps the short above 20% in profit.
IQS Phase
78
in tension
Signal Strength
25
decline starting to make lower lows
Sizing
MINIMUM
Ranking
#52 / 137
US stocks
Trade P&L %
+20.50%
from signal to today
restricted Platinum content