Shares of Tilray Inc (TLRY) continue to trade lower into year end. This is likely tax loss selling as investors look to minimize taxes owed on their profits.
The expectation is that January 2020 should bring a major pop in shares of Tilray Inc as the selling subsides and bargain hunters pounce. In terms of technical charting, investors should be watching a trend line stretching back to August and September 2019. Every pivot high on Tilray since, has kissed this trend line.
This tells investors and stock traders that the trend line is major. In other words, when price breaks to the upside, there will be a huge pop.
Currently, the trend line is hovering around $18/share. When price establishes itself above $18 on a minimum of at least a daily close, price should quickly shoot up in January 2020 to above $25.00.
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