Everyone is talking about pot stocks, cannabis stocks, right? And one of the most popular ones is a company called Tilray.
So, is Tilray a good stock to buy right now? And that’s what we’re going to talk about right now,TLRY stock news.
Flavor of the year
Let’s talk about cannabis stocks and pot stocks. Right now it’s April 2019 and pot stocks are the flavor of the year.
It’s really interesting when you look into the trading world, there’s always a flavor of the year. End of 2017, it was Bitcoin and cryptocurrencies.
A year and a half ago, everybody was crazy about cryptocurrencies. Before that what were people excited about? Biotech, right? I mean, everybody got excited about biotech.
3D printing was another flavor of the year.
So there’s always a flavor of the year, and right now it is pot stocks, cannabis stocks. One of the most popular ones is Tilray.
TLRY Stock News – Buy or sell?
As you can see Tilray started trading in August 2018. It hasn’t been that long and it started trading at around $26.
Tilray, TLRY got very popular because it moved from $20 to $100, $200. So, what is this? Like a 1000% from $20 to $200 dollars, but what goes up must come down.
And this where you see now after it spiked up it looked very similar like bitcoin, Bitcoin went all the way up and then it crashed down.
The way I analyze stocks is in a very objective way. I don’t care what everybody is saying about these stocks.
What I do is I look at three indicators.
The RSI, the stochastics which is the orange indicator, and I’m looking at the MACD.
Here’s what I want to see:
When the stock is going up you will see that the RSI is above 50, that also stochastic is about 50 and that the MACD, which is the purple line, is above the orange line.
Right now you see that the RSI is below 50, the stochastic is below 50, and you also see that the MACD is below its moving average, the purple line is below the orange line.
And this means that right now all three indicators are saying it’s more likely to go down.
If you watch the video at the top of this blog, I will show you exactly where the indicators warned us the first time that Tilray is more likely to go down.
What are the indicators telling us right now?
You can bet on a falling market. And right now, if you’re looking at Tilray, it’s definitely one of the stocks that seem to be going down.
When all three indicators are telling you that a stock is more likely to go up you want to be a buyer. If one of the indicators are telling you, “Oh my gosh, it is time to sell this stock is more likely to go down” then you want to be a seller.
If you’d like to know more of how exactly I do this, please go to www.mytradingroutine.com
I have a 35 minute video for you there that shows you the settings of these three indicators that I use and how I use them to make my trading decisions.
So, Tilray right now is definitely not a buy for me.
Let’s look at some other pot stocks and see if they’re more likely to go up.
Another popular one, ACB, l think it’s the second biggest one, Aurora Cannabis Inc. Now, here you see on the other hand, that this stock could continue to go up.
You see that the RSI is above 50, the stochastic is above 50 and the MACD is about to go above, as soon as it does on the first day this is when I would rather be a buyer.
You know me, I personally do not like to trade these mainstream stocks.
I like to find stocks that are under the radar that not everybody is talking about, because I want to avoid entering a stock that has a similar fate here as Tilray, shooting up like crazy and then crashing down.
And again, if you’re interested in how exactly I do this, or how I’m picking the stocks that I want to trade each day, go to www.mytradingroutine.com
This is where you’ll find all the info and also more about the software that I use to analyze these stocks.
Just to wrap it up, is Tilray a buy?
For me, right now, no, it is more likely to go down.
Let me know if you found this helpful in the comments section below.
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