KTTA: Bull case but not confirmedFor one, what stock is this? This is a Penny Stock. They usually come with high risk, high reward.
KTTA has Ketamine products in developments and testing. I'm a strong believer in 'pshychedelics' and their positive effect on health, when done correctly. The sector has been bad for quiet some time.
- as a contrarian indicator, this seems capitulation phase. We want it when nobody else will.
- moving averages: currently above daily 21 and 100 daily MA. Weekly 21MA (really important) is at 0.91
- previous top at 0.91 as well. This will be strong resistance.
- watch volume on daily chart. previous rallies were pure sell off rallies. a change in pattern like big green volume with a green bar is bullish and could mark the start of a rally up (if there is no immediate sell off the days later ..).
- long term blue downtrend is broken
- Weekly RSI is rising
- after prolonged downtrend might be seeing some base building here
retest of lows remains possible
Buying here might still be early, too early in the cycle? 0.91 and 1.14 needs to get broken and the overall structure needs to change to really become bullish.
Magnet levels when in bull run
- 0.91
- 1.14
- 1.40
- 2.21
- 3.85
- 5.43
- 6.00
- 7.50
Big stretch:
- 9.25
- 17.40
