Tilray weekly uptrend opportunity based On 1.00 Lot Calculation:
- Tilray is a Canadian pharmaceutical and cannabis company, incorporated in the US. Tilray also has operations in Australia, New Zealand, Germany, Portugal, and Latin America. The Company is a supplier of cannabis products to pharmaceutical distributors and it is focused on medical cannabis research, cultivation, processing and distribution of cannabis products worldwide.
- On Dec. 16, 2020, Aphria and Tilray announced plans to merge, creating what will be the largest global cannabis company by revenue. Aphria shareholders voted with the vast majority in favor of the proposed merger while Tilray postponed the vote that was originally scheduled for Friday April 16, for two weeks (April 30). The merger is stepping closer to approval as on Friday Tilray revised its bylaws to reduce its shareholder vote quorum. If all is approved, the combined company will adopt the Tilray name.
- During this election the Biden campaign touted their support for cannabis decriminalization. New Jersey legalized marijuana last month and New York State lawmakers have reached a deal to legalize it for recreational use. Also recently Virginia became the 16th state to legalize it, which was somewhat unexpected and could be an important catalyst for changes at the national level.
- Mexico's Chamber of Deputies passed legislation that would legalize marijuana for recreational, medical, and scientific uses. The bill would make Mexico one of the largest markets for the legal marijuana industry, along with Canada and Uruguay.
- The company announced it has exported its first medical cannabis shipment to Spain, and has received the first and only market authorization for medical cannabis products in Portugal.
Tilray, April 19, 2021
Current Price: 17.06
TLRY |
Weekly |
Trend direction |
|
31.48 |
|
27.51 |
|
23.36 |
|
11.55 |
|
7.46 |
|
4.64 |
Example of calculation base on weekly trend direction for 1.00 Lot*
TLRY |
||||||
Pivot Points |
||||||
Profit or loss in $ |
14,420.00 |
10,450.00 |
6,300.00 |
-5,510.00 |
-9,600.00 |
-12,420.00 |
Profit or loss in €** |
12,035.52 |
8,722.00 |
5,258.24 |
-4,598.87 |
-8,012.55 |
-10,366.24 |
Profit or loss in £** |
10,419.75 |
7,551.07 |
4,552.32 |
-3,981.47 |
-6,936.87 |
-8,974.57 |
Profit or loss in C$** |
18,030.34 |
13,066.37 |
7,877.33 |
-6,889.54 |
-12,003.55 |
-15,529.60 |
* 1.00 lot is equivalent of 1000 units
** Calculations for exchange rate used as of 11:50 (GMT+1) 19/04/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more detail