As legalized marijuana became a reality, stocks like Tilray (TLRY) surged higher in 2018.
In fact, TLRY rocketed up towards $300 per share before reversing lower and creating a major bearish reversal candle.
That reversal candle set the stage for a 90% decline into 2020. Yikes!
After the decline, Tilray (TLRY) formed a large bullish reversal and began a huge recovery rally. That rally pushed TLRY all the way up to its 23.6% Fibonacci price resistance level (earlier this month) before reversing lower.
Yep, another reversal… and it’s been a steep one, rivaling its 2018 bearish reversal candle…
So, what will become of the latest bearish reversal? Well, let’s just say that pot stock bulls hope the results are different this time around! Stay tuned!
$TLRY Tilray “weekly” Stock Chart
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