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.
- During this election the Biden campaign touted their support for cannabis decriminalization and Senate Majority Leader Chuck Schumer said that legalization would be a major priority in a Democratic controlled Senate. President-elect Joe Biden will likely unveil his plan on Thursday, January 14.
- Yesterday news that Mexico has finished drafting rules to permit medical marijuana sent shares of the cannabis industry up. If and when that happens, Mexico could in an instant become the world's largest legal cannabis market.
- Cannabis legalization is sweeping over North America, 15 states plus Washington, D.C., have all legalized recreational marijuana as well as Canada. Virginia Governor Ralph Northam is pushing to legalize marijuana for recreational use in the commonwealth, which would make it the first southern state to do so.
- TLRY has moved about 49.27% on a year-to-date basis. In comparison, Medical companies have returned an average of 3.58%. This shows that Tilray is outperforming its peers so far this year.
- Tilray is about to become the biggest marijuana company in the world by revenue as part of a merger with Aphria, a leading marijuana grower based in Canada.
Tilray, January 14, 2021
Current Price: 14.78
|
TLRY |
Weekly |
|
Trend direction |
|
|
26.25 |
|
|
23.55 |
|
|
19.65 |
|
|
9.95 |
|
|
6.07 |
|
|
3.33 |
Example of calculation base on weekly trend direction for 1.00 Lot*
|
TLRY |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
11,470.00 |
8,770.00 |
4,870.00 |
-4,830.00 |
-8,710.00 |
-11,450.00 |
|
Profit or loss in €** |
9,434.27 |
7,213.48 |
4,005.66 |
-3,972.76 |
-7,164.13 |
-9,417.82 |
|
Profit or loss in £** |
8,394.75 |
6,418.65 |
3,564.29 |
-3,535.02 |
-6,374.74 |
-8,380.11 |
|
Profit or loss in C$** |
14,534.78 |
11,113.34 |
6,171.26 |
-6,120.58 |
-11,037.31 |
-14,509.44 |
* 1.00 lot is equivalent of 1000 units
** Calculations for exchange rate used as of 08:45 (GMT) 14/01/2021
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