TLRY stock is up more than 14% on March 25, 2022, after news circulated that Congress is set to vote next week on major marijuana legislation.
House to vote on marijuana legalization bill next week, Marijuana Moment says
The U.S. House of Representatives intends to vote on legislation to federally legalize marijuana for the second time in history next week, Marijuana Moment’s Kyle Jaeger reports, citing congressional leadership. The House will vote on the Marijuana Opportunity, Reinvestment and Expungement Act, a bill sponsored by House Judiciary Committee Chairman Jerrold Nadler, the author notes. The measure, which would remove marijuana from the list of federally controlled substances and promote social equity in the sector, cleared the Judiciary Committee again, the author says. Source: https://www.marijuanamoment.net/federal-marijuana-legalization-bill-officially-scheduled-for-house-floor-vote-next-week/
TLRY Bullish Option Flow
Solei Brand Launches New Wellness Product For Nighttime Use
Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company inspiring and empowering the worldwide community to live their very best life, today announced the launch of Renew Moonlight a new CBN vape pen designed for nighttime use by wellness brand, Solei. Joining Solei’s award-winning portfolio of wellness products, this precisely formulated high-CBN vape pen with a potency of 4:1 THC and CBN is blended with citrus and herbal aromas.
“Solei products are designed to support daily wellness routines from day to night,” said Danielle Minard, Solei, Brand Manager. She continued, “Renew Moonlight is the perfect CBN product for consumers looking to ease into the night after a long day.”
📺 (TLRY) Tilray Stock Update | HIGH RETURNS? | Cannabis Stocks to buy now ?!?[embedyt] https://www.youtube.com/watch?v=A5Qqjc33AQ8[/embedyt]
📉 TLRY Stock Technical Analysis
Volume is considerably higher in the last couple of days, which is what you like to see during a strong move-up. Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry. TLRY is currently trading in the lower part of its 52-week range, which is not a good signal. Agreed, the S&P500 Index is also not doing great, but it still is trading in the middle of its 52-week range.
There is support at 7.38 from a horizontal line in the daily time frame. There is also support at 7.13 from a horizontal line in the weekly time frame. Finally, there is a support zone ranging from 6.94 to 6.98. This zone is formed by a combination of multiple trend lines in multiple time frames.
There is resistance at 7.94 from a trend line in the daily time frame. There is also resistance at 9.59 from a trend line in the daily time frame.
The technical rating of TLRY is bad and it also does not present a quality setup at the moment. TLRY stock has a Setup Rating of 1 out of 10. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when TLRY stock consolidates and has a Setup Rating of 8 or higher.