HELP Me!!! - Cybin Update and Golden Cross

Feb 19

It's been a while since I've given an update on this one. Been sort of accumulating a small position for a while. Mostly bought in the $7 range at this point, so I haven't taken a huge loss (yet - there's always time for deeper losses).

MindMed ended up being the better pick - thankfully I managed to scoop some up at much lower levels. But this post is about Cybin, which has been really beaten down by a number of factors, including apparently share dilution. This is high risk.

Despite it being high risk, I have noticed some signs that may indicate price has reached a bottom. Now, if and when it would rise is anyone's guess, but things are starting to turn around a little from a charting perspective.

1) Sneaking out of a long term downtrend.
2) Increased volume and NASDAQ listing. Coupled together, this may indicate accumulation.
3) Daily golden cross (50 MA just crept above the 200 for the first time since 2024).

Major price hurdles are marked in green. If it can get above the strong $8-10 resistance/supply zone and stay there, maybe a 100% increase from current levels is not completely unreasonable.

That's really it! I'm interested in this space because I do believe in the transformative power of psychedelics, especially as an alternative mental health treatment. Whether or not this can be profitable is another story, but there could be some hype around this especially as money flows away from other sectors that may have had their time in the sun.

As always, this is meant for speculative purposes only!

-Victor Cobra

Mar 4

Note

Hitting up against the major resistance level here. May get a temporary sharp pullback, but let's see if it can break through. Making it to $10 at least would be something.

Mar 7

Trade active

Much stronger rejection from the trendline and horizontal resistance than I was expecting, but not a huge surprise considering the history of this stock and its dilution. I added here, but good to still be cautious of a markdown. Due to recent positive developments with the outlook and the company, it would be a shame if the major support here was lost. Let's see. If it loses this level, I'd expect it to get down to the bottom of the giant wedge again, below $4.

Mar 7

Note

Based on volume alone, there is a huge amount of this stock being traded when compared with its history. This could be a "terminal" shakeout, but somewhat hard to completely assume that with share dilution.

Mar 10

Note

So far, a bounce right off horizontal support. I think if price can get back above $6.40 or so, chances increase that this was a terminal shakeout.

Mar 25

Note

Added at $4.50 yesterday, lowering my average substantially. Next buy-in level would be at the bottom of the wedge, but we will see if it even gets down there. If price can stabilize back above $5, I think that would be good indication that a bottoming process continues. Based on what I've seen "fundamentally" from the company, I wouldn't be surprised to see sudden upside at some point in the future. But, as with early biotech, it's a gamble. Very promising field though and I like their vision.