Shroom Is the New Weed
I've been bullish on psychedelic stocks for a while now and I really like this low hanging fruit here, RVV.
Fundamentals are good and it is only a question of time before psychedelic medicine penetrates the healthcare sector with undeniable therapeutic properties. Company also boasts a nice pharma play imo.
Technical (*resolution may affect drawings*): Interesting support on Fibonacci arcs . Bullish candles on (A), (B), and (C). (A) failed although it broke a bearish sequence. The stock reached support again between (B) & (C) at around $0.17.
Looking forward to see what happens at the 0.786 arc (D) - but everything seems to indicate we have support if anyone thinks of jumping in now. Still cheap imo , but a pullback in the $0.20-0.25 wouldn't be surprising. Hopefully a nice catalyst is going to surface in the next weeks in order to propel the stock over the current resistance level (~$0.385). If not end of July (D) maybe end of summer.
Please know this is only my opinion and I am not a financial advisor.
Feel free to drop comments!
Cheers
Fundamentals are good and it is only a question of time before psychedelic medicine penetrates the healthcare sector with undeniable therapeutic properties. Company also boasts a nice pharma play imo.
Technical (*resolution may affect drawings*): Interesting support on Fibonacci arcs . Bullish candles on (A), (B), and (C). (A) failed although it broke a bearish sequence. The stock reached support again between (B) & (C) at around $0.17.
Looking forward to see what happens at the 0.786 arc (D) - but everything seems to indicate we have support if anyone thinks of jumping in now. Still cheap imo , but a pullback in the $0.20-0.25 wouldn't be surprising. Hopefully a nice catalyst is going to surface in the next weeks in order to propel the stock over the current resistance level (~$0.385). If not end of July (D) maybe end of summer.
Please know this is only my opinion and I am not a financial advisor.
Feel free to drop comments!
Cheers
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.