The day after Christmas is usually a low volume session, but over the years, I’ve noticed that some of the most significant moves can happen on these quieter days. I think the lack of volume sometimes amplifies the swings, which is exactly why I want to be ready for Friday’s session.
Looking at the daily chart of TLRY, we are holding support nicely, and we just put in an inside day on very low volume. This is particularly interesting because it comes after four consecutive lower highs on the daily chart. The high of the mother candle sits at $10.95, and I’ll be watching closely to see if TLRY can break back over $11 for a potential long entry. I like this setup because it combines several factors that often precede a move higher: consecutive lower highs, an inside day, support holding, and lower volume on the pullback. It’s a confluence that tends to attract buyers once the right trigger occurs.
TLRY isn’t the only stock showing this kind of pattern. Many other cannabis names, like MSOS, GTBIF, TSNDF, and CRON, are displaying similar setups. When I see multiple stocks in the same sector lining up in this way, it gives me more confidence that we could be on the verge of a broader move higher.
For me, this is a reminder to pay attention to these setups and have a plan ready. I’ll be watching for entries above key levels, keeping an eye on volume, and monitoring support closely. The combination of a low volume post holiday day and a potentially bullish technical setup makes this a session where I want to be alert and ready to act. All of these cannabis stocks are on my radar right now, and I believe we may be in the early stages of a turn higher.
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