Amidst my re-evaluation of markets, divestment from crypto, and future planning, I'm slowly building a long term position in CYBIN. As a therapist who also happens to be a fan of psychedelics, this one fits me well. I think it can continue to flounder around, and perhaps test some even lower levels. Just looking for optimal entry points now, and managed to scoop...
Cybin is a clinical-stage biopharmaceutical company on a mission to create safe and effective psychedelic-based therapeutics to address the large unmet need for new and innovative treatment options for people who suffer from mental health conditions.
Cybin’s goal of revolutionizing mental healthcare is supported by a network of world-class partners and...
Amidst a dwindling cash balance, and an erosive burn rate Cybin Inc. (NYSE: CYBN) found itself presented with a solution in the form of a common share purchase agreement with Lincoln Park Capital Fund, LLC (LPC). This deal will help CYBN overcome its current financial hurdles by providing cash that will help it fund its ongoing trials which may allow it to reach...
Compared to some of my other small caps, this isn't doing as terrible in this market turmoil. It's been mostly sideways bouncing off oversold on the daily for over a month now, still in the descending wedge but it's not showing any strength yet and lost a short term support at $1.10 I was watching. Next support seems to be $1. RSI on the weekly is not oversold...
One of PSYK's holdings, young industry with a growing addressable market.
Big pharma has not only failed to help humans who suffer depression, PTSD, drug abuse, etc. but in some ways made the situation worse.
Psychedelics are widely misunderstood and I believe they can offer solutions under proper conditions and in a therapeutic manner.
Barriers to entry is...
As you can see we have formed a bullish descending wedge. RSI went oversold and is recovering now. Price is flattening and MACD is about to cross over. I think we go to test the downtrend by EOY. If we get rejected, re-test and breakout may come 1Q 2022. PT $4+ Lots of advancements coming out in the sector and by Cybin!
They keep dropping news every few days and they've been one of the few in this sector that had a positive trend over this past summer, so carefully optimistic if would break the up trend in the next week, but will wait to see a clear breakout signal with increasing daily volume. Do you DD!
Keeping a close eye on CYBIN as it's been progressing nicely since March while the entire market has been pressured down. Will watch for a bounce on the lower trend with increasing volume and MACD reversal before adding more to my position (current position average of 1.36).
Gems are out there. Psychedelics and Cannabis have a huge future. A saturated & hyperinflated market make it harder to find the gems.
FUNDAMENTALS.
#cannabisreform
#jobsandjustice
#thegem
**SAFE Banking added to National Defense Authorization ACT.
US markets are closed, this may get some attention.
Insane volume last Friday that drove the price higher.
This would be a break out based trade.
Im buying a break above 2.50 on a day trade basis, a trade which may turn into a swing trade if volume and movement is favourable.
