US markets are closed, this may get some attention.
Insane volume last Friday that drove the price higher.
This would be a break out based trade.
Im buying a break above 2.50 on a day trade basis, a trade which may turn into a swing trade if volume and movement is favourable.
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CYBN *may* break above and make a nice move soon. Im holding a position now just to benefit from a possible break above.
Would sell if I see a down trend or closes below moving averages,
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I had jumped in and out a bunch of times, making a small profit each time. I suppose that it is not ready to make a move and I needed to trim my position in the Psychedelics so I have money to play with. I am out of this trade.
Confirmed break out above 2.60 or a buy and hold can prove to be a good strategy non the less.
Thanks for sharing. If it closes above 1.51, I'll be jumping in the morning after
Madcaptains
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The reason I chose 1.51 instead of 1.50 is because round number often act a support or a resistance. I think it's safer to wait for a close above that line before to say we're clear.
pocketfeeder
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Nice catch, it almost looks like a cup/handle was forming. I think I'd wait for a fakeout ~2.20 and ride it up. Hold until 2.50 to test resistance but if it breaks, then i'll re-assess the support/resistance