DRUG - +100% potential 1:5 RR play Nice growth stock and I really like the consolidation it's gone through which gives me confidence of a breakout above.
The Analyst rate it highly and it could be a 1:5 RR which is excellent odds on money.
DRUG trade ideas
DRUG (Bright Minds Biosciences Inc.): Massive 2,000% Surge!DRUG (Bright Minds Biosciences Inc.) Super Move Captured with Risological Swing Trader
We entered a long position on 14th October at 1.23 using the daily time frame, catching this explosive upward movement with the precision of the Risological Swing Trader. The indicator identified the perfect entry point, allowing us to ride this massive surge effortlessly. As of now, the price has reached $26.90, delivering an exceptional return.
Target Points Achieved:
TP 1: 1.40
TP 2: 1.68
TP 3: 1.95
TP 4: 2.12
This trade exemplifies the strength of the Risological Swing Trader in identifying major opportunities and turning them into extraordinary gains.
Penny stocks 2022Penny stocks are literally down to pennies per share now. Maybe 1 out of 10 of these companies may actually be successful in the future. As for now, none of them are a good investment.
WKHS
BBIG
MMAT
SNDL
PHUN
OCGN
DRUG
BKKT
WISH
MULN
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7pt Trading compass:
Price action, entry/exit
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Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
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+5% portfolio trades, capital risk management
Beware of analyst's motives
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Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
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Fibonacci VIP - volume
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pi RSI - trend momentum
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AlertiT - notification
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DRUG | Divergence Forming | WatchingBright Minds Biosciences Inc., a pre-clinical biosciences company, develops 5-HT (serotonin) medicines to improve the lives of patients with severe and life-altering diseases. Its portfolio of selective 5-HT receptor agonists comprises 5-HT2C, 5-HT2A, and 5-HT2C/A for the treatment of epilepsy, pain, and neuropsychiatry. The company has collaboration with National Institutes of Health for the treatment of epilepsy; University of Texas Medical Branch to treat impulse control disorders, such as binge eating; and Medical College of Wisconsin. The company was incorporated in 2019 and is headquartered in Vancouver, Canada.
$DRUG Next Target PTs 4.50-9 and higherBright Minds Biosciences Inc., a pre-clinical biosciences company, develops 5-HT (serotonin) medicines to improve the lives of patients with severe and life-altering diseases. Its portfolio of selective 5-HT receptor agonists comprises 5-HT2C, 5-HT2A, and 5-HT2C/A for the treatment of epilepsy, pain, and neuropsychiatry. The company has collaboration with National Institutes of Health for the treatment of epilepsy; University of Texas Medical Branch to treat impulse control disorders, such as binge eating; and Medical College of Wisconsin. The company was incorporated in 2019 and is headquartered in Vancouver, Canada.
Ceo is accumulating in this range Drug is an interesting psychedelic play that aims to to be a next generation psychedelic company.
Currently we are going sideways and it has some bullish factors goin for it
TA bullish factors
1) it broke the downward trendline and had a successful retest
2) we can see the macd starting to pinch and might be going for a zero line cross on the 65 min
Possible bearish scenario from TA:
One could argue that this is a distribution phase for a continuation downwards.
Bullish Fundamentals:
However, I don't believe we should look at this from a pure TA pov as we will be missing out important information
1) They raised 25.9 million dollars at 7.57, so private placement people re currently bag holding and we are trading at a discount.
2) Their marketcap is currently only 43 m, so 25.9/43 = 0.6. Meaning the cash raised makes up for 60% of their current market cap, making this a very attractive time to buy. So I see very little downside risk
3)The ceo has been accumulating shares in this sideways range spending 132.6k $ with most of the shares accumulated at 6.8ish
4)bullish tailwinds for psychedelics.
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