Tilray Technical Chart Retrace Gives Buy Signal

Tilray Inc (TLRY) is flashing a strong buy signal today. The Tilray technical chart has retraced a perfect Fibonacci 61.8% of the recent move from $4.45 to $12.15. In addition, the daily chart tagged the 20 moving average support as well as a major pivot. This gives investors and swing traders a three factor trade opportunity on Tilray. The fundamental concept of the trade is that as the Biden administration nears power, investors will get more excited about marijuana legalization. That should drive up marijuana stocks like Tilray. The Tilray technical chart retrace buy level signals a snap back to at least $10.00 heading into January 2021. This means it offers 40% upside potential.

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