On Tuesday, Tilray (TLRY) reached an important technical milestone, with its Relative Strength (RS) Rating jumping into the 80-plus percentile with an upgrade to 81, an increase from 78 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD’s unique RS Rating measures market leadership by showing how a stock’s price action over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history shows that the market’s biggest winners often have an 80 or higher RS Rating in the early stages of their moves.
Tilray has climbed more than 5% past a 12.25 entry in a first-stage cup without handle, meaning it’s now out of a proper buy range. Look for the stock to create a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Tilray posted negative growth for both sales and earnings last quarter.
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