MMED is attractive at under 1.10 for longPrice support at the 1.00 mark as per the candles and volume.
BIG investor money at 1.05 Canaccord Genuity purchased 23,810,000 units at 1.05. Easy to say there is going to be good support here as they are likely to hold for long position as well.
MNMD trade ideas
Kevin O'leary adopted brainchild, Swing TradeJust another great company, in a sector that is about to go. Pscychodelics(Pharama). They are alreay in the cannabis market, however they are geared towards the next frontier, lsd, psylocibin, etc.
Its a swing trade, enter below a dolar, as it corrects violently. If it bounces of the dolar as tsx_trader is suggesting go all in to the next resistance, otherwise 80sh cents its a grea entry point.
Good Luck, definatly a hold once you enter, sell once it doubles and buy the correection again.
MMED attractive at the $1.00 markMMED had been on a tear recently and its cycling off finally.
I like it long term but In the mean time the MACD is rolling over to the down side. The RSI is showing that it was overbought and it will be rolling over down as well.
It may not go as low as $1. And it may go to 1 and then much lower.... You can never time it, but there is good support at the $1.00 level for sure!
I would enter into a position at $1 personally. Will keep watching this one.
MMED may experince exponential growthGood overall market coniditions moving into This weeks training, this company has a great plan and creates a product for which it could become really successful. Chart is moving up majorly although last 2 trading days we saw a decline in Volume.
My favorite place to enter would be the 1.00 mark as its shown great support.
1.11 also has some support which was tested two days in a row recently.
Otherwise I would buy into the break out. Better yet, be disciplined and enter the trade at three different intervals.
Path for MMEDBullish on this long term but for the time being I believe the price may correct itself in a cool-down after its breakout.
MACD- showing signs of slowing as the fast indicator is reversing path
RSI- showing a clear, yet slow uptrend.. we may see the RSI approach the yellow line... may not hit it exactly
SAR - we have our TOP dot, meaning the parabolic movement is reversing hence, stop and reverse
Price levels I am personally anticipating: I'm looking at the $0.55-0.6 zone, but keep on eye on your EMA's and SAR and other indicators
These are my ideas and not financial advice, Happy Trading
MMED new points for entryThe MACD and RSI arent helping here. This stock has only been trading for so little. It has promise for the long term on speculative basis at this time. I am looking at my next place to enter this trade. Do not enter now!!!! Wait for it to reach a good point for entry.
Since it started trading it has bounced off of 3 points highlighted in the chart.
The 0.51 area was once good suppot, which later became good resistance that was broken through. I feel that this would be ideal location for entry into the trade. however, there is good support at the .66 area.
I fear that if you dont buy at .66, you may miss out on some nice gains.
Without a doubt, the way this chart moves is very intresting, notice big candles to the upside (only one or two) followed by big red canadals down (1 or 2) after which it rests for some time.
I will enter the position in three increments of $200 investments each (total $600) at .66, at .51 and should it keep going down, at the area of .44 ish. If I enter somewhere and it bounces, I will just take my profits and wait for it to come back down.
Potential descending channel for MMED?The green upward sloping line of support is potentially keeping a bullish flag in play here, but it appears as though downward pressure is indicating there may be a retest of the bottom blue channel where I have the red arrow pointing down.
KEY TAKEAWAYS
A descending channel is drawn by connecting the lower highs and lower lows of a security's price with parallel trendlines to show a downward trend.
Traders who believe a security is likely to remain within its descending channel can initiate trades when the price fluctuates within its channel trendline boundaries.
A more potent signal occurs with a breakout, which is when a security's price breaches an established channel's boundaries, either on the upper or lower side.
Breakout of down trendHello Traders,
MMED has broken out from a recent steady downtrend. The upside breakout occurred one day after a news announcement (new potential pipeline and phase 1 testing). Note that the down trend was losing steam from a volume perspective, which in my opinion is the second best indicator after price action (it's unfortunate forex does not have accurate volume information!). The reversal point also has ratio confluence and some minor structure tests.
Thanks,
PS
Possible C&H on MMED. Target $1.3If MMED breaks out of the channel on high volume then its a likely Cup and Handle.
