Tilray Earnings Setup

Recently my eye has been on pot stocks and the broad ETF MJ for signs of life. Most seem to have forgotten about these stocks after years of disappointment. That's when I get interested.

On a down day in the stock market at large Tilray TLRY is UP on earnings. More importantly from a technical analysis standpoint the price had a beautiful hold prior to earnings of the 50% Retracement level of the March rally. This is the same March rally in pot stocks I have noticed above the board. While this opportunity may have passed with earnings it gives a glimpse into possible downtrend reversal.

I will be watching this post-earnings price action for a setup.

Pot stocks as a theme are now on my radar and they should be on yours as well.