I don't expect too much news for MindMed by March, but there might be a potential trade even if it hits resistance. Keep a stop loss set up for about $1.40. If it goes below about $1.52 there's no more technical support left.
*not financial advice this is all my own opinion*
The downward ray given along with 3.60 magic number provided perfect breakout.
The upward ray coming from lows before the list has been drawn since before crossed, and has no validated itself.
Volume profile is favorable to the long side. This ray is simply guidance, but is offering a good leading indicator. If we can get above or at least stay close, it appears...
Price discovery is full effect. We've seen some healthy consolidation near what I believe to the bottom - about 2.94
2.25 was the accelerator, and I indicated the price action around it last week was very bullish...
Numbers to watch are 4 - 4.55 - 5 - 5.69
There's not telling what happens this week... that FDA news just dropped and market is reacting (although it...
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...
The flat volume should be increasing any day, for better or worse. I'm thinking for better. It has built strong support on the 100 day, & RSI is trending up while price is riding an upward trend line. It looks decent, and now is a good time for a lot of stocks to break out of their slumps.
I'm noticing numerous stocks at a tipping point so I think Monday or...
MINDMED
TECHNICAL ANALYSIS
- Minor support of 4.90 broke and had to it falling to the next support at 4.17
- Multiple attempts to break past this strong level but it has closed above it . This would be a highly suggested level to buy at 4.17 region
- 3.50 will be next buy zone if it goes any lower which is the next support
Buy it before it booms 🚀
Perfectly defending $3 level during market sell off today.
Rays are being respected as well... showed short-term top when it was unable to break above.
Need to see 3.61 reclaimed to continue upward momentum.
#NQ seems to be the only thing that matters at this point.
Time will tell...
