Shroom Is the New Weed
I've been bullish on psychedelic stocks for a while now and I really like this low hanging fruit here, RVV.
Fundamentals are good and it is only a question of time before psychedelic medicine penetrates the healthcare sector with undeniable therapeutic properties. Company also boasts a nice pharma play imo.
Technical (*resolution may affect drawings*): Interesting support on Fibonacci arcs . Bullish candles on (A), (B), and (C). (A) failed although it broke a bearish sequence. The stock reached support again between (B) & (C) at around $0.17.
Looking forward to see what happens at the 0.786 arc (D) - but everything seems to indicate we have support if anyone thinks of jumping in now. Still cheap imo , but a pullback in the $0.20-0.25 wouldn't be surprising. Hopefully a nice catalyst is going to surface in the next weeks in order to propel the stock over the current resistance level (~$0.385). If not end of July (D) maybe end of summer.
Please know this is only my opinion and I am not a financial advisor.
Feel free to drop comments!
Cheers
Fundamentals are good and it is only a question of time before psychedelic medicine penetrates the healthcare sector with undeniable therapeutic properties. Company also boasts a nice pharma play imo.
Technical (*resolution may affect drawings*): Interesting support on Fibonacci arcs . Bullish candles on (A), (B), and (C). (A) failed although it broke a bearish sequence. The stock reached support again between (B) & (C) at around $0.17.
Looking forward to see what happens at the 0.786 arc (D) - but everything seems to indicate we have support if anyone thinks of jumping in now. Still cheap imo , but a pullback in the $0.20-0.25 wouldn't be surprising. Hopefully a nice catalyst is going to surface in the next weeks in order to propel the stock over the current resistance level (~$0.385). If not end of July (D) maybe end of summer.
Please know this is only my opinion and I am not a financial advisor.
Feel free to drop comments!
Cheers
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