As you can see on the chart NUMI had a good run since my last long signal. The outbreak was mainly driven by technicals and a general growing interest in the sector. We have an interesting catalyst ahead of us that can take the SP higher: "In addition to today's announcement, Numinus includes in its recent developments an amendment application to its Health Canada-issued Controlled Drugs and Substances Licence. The current licence permits testing, import and export, storage and distribution of MDMA, Psilocybin, Psilocin, DMT, and Mescaline as well as the undertaking of novel mycological research initiatives. The amendment will additionally permit the sale of Psilocybe mushroom fruiting bodies and extract for clinical research protocols and the development of standardized testing for additional psychedelic substances." (Cision 22 October). I think they will announce some sort of partnership or even a deal shortly after Health Canada accepts the amendment. I will come with an update as soon as we have material news that needs to be mentioned.
The Technicals: On the chart I've have outlined the upper and lower trendline. During the run we were far above both trendlines but now we are back at the upper trendline which I believe is the new lower trendline. This is why I am still bullish. Stay long and strong.
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As you all probably know already NUMINUS just raised 15 mil $ at a price of 0,68 $ a share. Hours after the news release the share price is at 0,83 $. This goes to show how much interest there is in the company/sector. This financing will keep us afloat for quite some time. Very clever decision my management in my opinion.
Catalyst alert!!!!! December the 2nd: "Numinus and MAPS Public Benefit Corporation announce collaboration agreement to seek approval of MDMA-assisted psychotherapy for PTSD single-arm, open-label trial". I can't link it here but you can find the whole segment on CISION
brae_j7
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Been following this post for the past couple weeks. Would love to connect on how you think this stock will continue forward. Cheers!
johnvee1111
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Bouncing on the upper trend line...I like that !
johnvee1111
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Looks like it does want to stay close to that upper trend line with a clear support at .70, so I'll be a little more patient with it. Seeing how CMPS keeps running, NUMI should eventually follow also.
@The_Trend_Master, Yes I was in the past weeks while there was a lot of movement on it recently, but might now just keep a position and close my eyes on it as I expect it to be in the 3-5$ easily by summer 2021.