Shares of marijuana producer Tilray Inc (TLRY) are surging today. This is a classic Tilray bull flag breakout stock chart after a week of bullish consolidation. Tilray ran from $4.40 to $6.70 two-three weeks ago. This was the beginning of the election cycle move I have predicted. Over the last week, it pulled back, forming a bullish inside bar/bull flag. Now the stock is surging 10% to $6.11 by lunchtime. Based on the stock chart setup, this Tilray bull flag breakout stock chart has upside to nearly $12.00/share. The election cycle is an obvious trade in my opinion.

Hedge funds are extremely underweight marijuana stocks based on a chance of a Democratic sweep. If that happens, vice presidential candidate Kamala Harris has stated they will legalize marijuana on a federal level. If that happens, these stocks are worth double or triple where they are trading. Hedge funds need to pile in prior to the election even just on the chance that happens. Tilray has a great stock chart and a ton of upside. Others include Aurora Cannabis (ACB), Canopy Growth (CGC), Cronus (CRON), and Aphria (APHA).

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