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chrisand13
Jan 13, 2022 2:50 PM

Waiting for a healthy market Long

Cybin Inc.Arca

Description

Compared to some of my other small caps, this isn't doing as terrible in this market turmoil. It's been mostly sideways bouncing off oversold on the daily for over a month now, still in the descending wedge but it's not showing any strength yet and lost a short term support at $1.10 I was watching. Next support seems to be $1. RSI on the weekly is not oversold yet. I have a neutral to bearish short term outlook overall on the economy and market, but long term, a few years out I am still bullish on this and it's potential. Just look at all the additional people suffering from mental issues and addiction with this pandemic this could help. This latest Covid surge has to be peaking soon so maybe once that dies off, the market and this will start looking healthier.
Comments
Scottd55
Agreed.
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