Tilray May Soon Be Smokin’ Hot

Marijuana stocks have been all the rage for about a year now, and Tilray has been one of the big horses. The medical marijuana name had an epic run higher last fall, moving from around $40 in September to a high of $300 on stellar turnover. Since then the stock has stumbled. It fell sharply in September and continued on a downward path into 2019. It now appears to have put in a bottom.

Notice the recent strong turnover and the push above the upper Bollinger band. RSI is solid and making higher highs, and the upward slope is nice and steep. The cloud is going to be hard to break through, so some sideways action followed by a vault higher through the November high seems to be the next step. 

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