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Benzinga
Benzinga
Business
Melanie Schaffer

Tilray Attempts Bullish Break From This Key Pattern: Could US House Vote On Legalization Launch The Stock?

Tilray Nasdaq

Tilray, Inc (NASDAQ:TLRY) was trading over 6% higher on Tuesday as the stock attempted to break up bullishly from an inside bar pattern that developed on Friday and Monday on the daily chart. Tilray's recent move higher comes after rumors that the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act could end up on the House floor this week.

An inside bar pattern indicates a period of consolidation and is usually followed by a continuation move in the direction of the current trend.

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