FSD Pharma breaking downtrend, early signs of next wave cycle
I've been following this stock for quite some time. As with most MJ stocks, this stock has been subject to hype/pump&dumps in the run up to legislation in Canada october 2018. After that we have seen a big retracement and correction to the current level where FSD has bottomed out. Change in the daily uptrend is marking the start of the next cycle according to my system and analysis and this provides.
What I especially like about FSD Pharma / Huge is management's approach which adheres to a zero-debt capital structure (to include debt in its capital structure is the reduced cost of capital). As this company is still maturing and yet has to receive a sales license, it is hard to gain insight in the financial strength of the company. However management's approach is non dillutive to shareholders and envisions structured growth. These stocks commonly show a pattern in which the bottom (support) is solidified and rises up to push through resistance eventually without crazy volatility. This bottom rise will not result in a cealing but a higher base. As the base rises, so does the sealing and the depth of the upper trading range.
At current levels FSD Pharma is really interesting at this price given it is now starting an uptrend. Personally I will be adding to my position in the buy zone, selling tranches when we reach the supply zone.
Please note this is not investment advice, just my analysis and vision on where this stock may go in the near future. Always do your own research, don't buy off of random tips on the Internet.
Peace
What I especially like about FSD Pharma / Huge is management's approach which adheres to a zero-debt capital structure (to include debt in its capital structure is the reduced cost of capital). As this company is still maturing and yet has to receive a sales license, it is hard to gain insight in the financial strength of the company. However management's approach is non dillutive to shareholders and envisions structured growth. These stocks commonly show a pattern in which the bottom (support) is solidified and rises up to push through resistance eventually without crazy volatility. This bottom rise will not result in a cealing but a higher base. As the base rises, so does the sealing and the depth of the upper trading range.
At current levels FSD Pharma is really interesting at this price given it is now starting an uptrend. Personally I will be adding to my position in the buy zone, selling tranches when we reach the supply zone.
Please note this is not investment advice, just my analysis and vision on where this stock may go in the near future. Always do your own research, don't buy off of random tips on the Internet.
Peace
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As I would like to add, the downside risk in this stock is currently limited in my opinion as it formed tripple bottom support! The upside potential is, like it's ticker implies.... huge.
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Also see the positive decline in performance and ytd: www.marketwatch...sting/stock/0k9?countrycod...
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And fear is back in the overall markets due to bearish European news. These dropdowns and break of trend are news related as all the major index gapped down. This will also provide for opportunities but for now, let the dust settle and wait for a clear trend change in general markets as correlations have now shifted.