[TLRY] Boxed in w/ Nowhere to Go but Down, Load Up Pre Earnings
Best case scenario TLRY bounces between $7 and $10 until earnings. I think it'll crack below the support there along with overall market weakness and tumble back down, who knows how low, really doubt it'll retest lows ($2.5 is a crazy steal) but anything under $7 really is a great value buy here especially after what ACB just demonstrated but if you're stingy like me you're probably aiming to buy in the $4-$5 range.
The industry gravity seems to be having an especially depressing effect on TLRY (aside from the overall climbing support line). Even as ACB soared and CGC, OGI, APHA and hell even the black sheep of the industry, SNDL and HEXO, made double digit gains, TLRY stayed mostly put.
Everything now reverting to mean because industry gravity is too high, that's only going to pull TLRY lower.
Eventually that gravity will dissipate and all these companies will soar, just a matter if that happens this earnings or next, but will happen.
The industry gravity seems to be having an especially depressing effect on TLRY (aside from the overall climbing support line). Even as ACB soared and CGC, OGI, APHA and hell even the black sheep of the industry, SNDL and HEXO, made double digit gains, TLRY stayed mostly put.
Everything now reverting to mean because industry gravity is too high, that's only going to pull TLRY lower.
Eventually that gravity will dissipate and all these companies will soar, just a matter if that happens this earnings or next, but will happen.
Data analyst with a passion for best fit lines B)
