Axsome Therapeutics - $AXSM - The Long Term Play

BATS:AXSM   Axsome Therapeutics, Inc.
Axsome Therapeutics - AXSM

▫️ Entered a position in Oct 2022 on the bounce off the 200 week SMA (averaging $50.77c per share)
▫️ That position is presently in 73% profit
▫️ I have no intention of selling at present as we have a strong underside support from the 200 week MA, the 200 day MA and high volume trading zone from $70-78.
▫️ This a longer term play however I think an entry from within the above price zone ($70-78) or having a stop placed under it, if you can weather such a decline would be worthy of a long term position.

Earnings are on the 20th Feb 2024 👀 however the chart is my lead. I look at earnings for long term DCA opportunities

When I initially entered this position I had a 3-4 year time frame in mind. We are 15 months in and sitting pretty at 73% Profit. Patience pays dividends.


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