Is this love, baby, or is it confusion?

This is an Elliot Wave projection suggesting we've just completed Wave 2 of a standard 5 Up formation.

  • Wave 2 is often a 0.5 or 0.618 pullback on Wave 1.

  • Wave 3 is often related to Wave 1 by 1:1, 1:1.618, or 1:2.618 (don't ask me why).

  • Wave 4 often pulls back to the .382 of Wave 3.

  • Wave 5 is least reliable and may replicate Wave 1 when Wave 3 extends, or extend to the 1.618 if Wave 3 replicates Wave 1 (again, dont ask me to explain this woo woo theory).

Possible Wave 2 targets ($CAD): 8.88, 10, 11.65, 16

Possible Wave 5 targets: 11, 13.37 14.59, 20

The MACD is turning up with a bullish divergence shown in yellow.

NOTE This analysis is akin to random guessing and finger painting. These price targets and predictions are in no way intended as finacial advices.

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Comment: "MindMed Announces Project Angie, Targeting the Treatment of Pain with Psychedelics"
Comment: According to my read, the daily bottom is in at $4.20 and $6 is the next resistance area, which we will reach within 1 week.
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