Tilray Inc (NASDAQ:TLRY) shares are trading lower Monday, although there looks to be no company evident news to explain the jump in share price. Cantor Fitzgerald’s Pablo Zuanic said Monday he prefers Tilray over Canopy Growth Corp (NASDAQ:CGC) for those who want exposure to the larger Canadian LPs.

• Shares have been falling for a while and forming into what technical traders call a falling wedge pattern. The stock is possibly breaking below pattern support, which could cause a further downward push.
• Connecting the highs and lows of the chart shows that the stock has been getting condensed between narrowing highs and lows. These lines connecting the highs and lows are nearing the point where they connect and the stock is possibly seeing a drop below support.
• The stock trades below both the 50-day moving average (green) and the 200-day moving average (blue), indicating the stock looks to be in a phase of bearish sentiment.
• The stock may find resistance near each of these moving averages in the future.
• The Relative Strength Index (RSI) has been fading lower and now sits at 30. This is right on the border of the oversold area. This means the stock has seen more sellers than buyers in the past few weeks.