Today’s instrument is the Tilray Inc., a company that engages in the research, cultivation, production, marketing, and distribution of medical cannabis products, and whose stock is traded in Nasdaq exchange under the ticker TLRY.
Looking at the TLRY’s chart, we can see that it is in a downtrend, and it was lastly traded at around $1.65.
Today, if it manages to hold the price above the support level which is located at around $1.50, then we could expect it to rise towards the soft resistance level at around $1.80, and if it breaks through it then the path towards the next resistance level, which is located at around $2.30, will open.
This article was originally published by Fxstreet.com. Read the original article here.