Keystone bot some pot today. What!!? Pot stocks, pot stocks, not pot. Oh, okay. The marijuana plays are crispy-fried, toasted, cooked; they must have smoked a fatty. TLRY crashes from the 30-60 area in the frenzy 2 years ago down to sub 3 bucks. Call it a -90% and more crash. There is a lot of consolidation occurring in the industry. The pot market got flooded with product and the people can't smoke it fast enough, although they are trying their best.
Who knows where the bottom is at? TLRY weekly chart above shows positive divergence across all indicators so she is fueled-up for a run higher on the weekly basis. Price starts to pop due to the positivity on the 2-hour chart. MJ is the same chart and there are plenty of other marijuana plays.
Price is below the moving averages requiring a mean reversion higher. The money flow is negative over the next week or two so there may more chop ahead for a couple weeks.
Once garbage starts dropping sometimes you do not know where it will end but the stocks are probably pretty-well washed-out now considering the possie d. Keystone bot TLRY and MJ as speculative longs and will probably hold them for a few weeks. If they fall out of bed over the next few days, the trades will have to be ditched. Smoke 'em if you got 'em. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
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