What is going on with TLRY? That was the question running through my head for most of the session today. We started the day with a strong rally, which is clearly visible on the 5-minute chart. From the open, momentum looked impressive, and at least to me it felt like buyers were in control. Price pushed higher steadily, and TLRY eventually reached an intraday high of 9.95. As you know, the $10 level is the area I’ve been focused on, so seeing the stock get that close made it feel like a breakout attempt was genuinely on the table.
For a while, the action was behaving exactly the way I wanted to see. Momentum was building, and the tape suggested follow through could be coming. However, that optimism didn’t last. Relative weakness started flashing warning signs, and once I saw it, I couldn’t unsee it. The divergence between TLRY and MSOS was especially telling.
At point A on the chart, both TLRY and MSOS made higher highs on the day. That’s normal and healthy market behavior, particularly when the group is acting well. But then point B told a very different story. When MSOS went on to make a new high, TLRY failed to confirm it and instead put in a lower high. That kind of action is a classic signal that sellers are stepping in and gaining control, and it’s not something I want to see when I’m anticipating a breakout.
Not long after that divergence appeared, TLRY broke minor support and began to roll over. The selling pressure picked up, and the stock faded into the close, effectively shutting the door on any near-term breakout attempt. It was a disappointing finish given how strong the day started.
That said, the bigger picture still matters. On the daily chart, TLRY is holding gap support, which keeps the overall setup intact for now. As long as that support holds, I’m still watching closely for another push toward, and potentially through, the $10 level. For now, it’s a waiting game. We’ll see what tomorrow brings.
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