The next hype narrative after crypto has its bull run and seems “tapped out” will be psychedelics having a clinical use case and the runway for approval lines up perfectly. Compass has established itself as the best positioned player in the game and the shares have never been more reasonable. I am a continued buyer on anything 6 or below just because this is a long term play and cash could always be needed so I’m not seeing the true recovery take place for maybe another year or so but will definitely take it if it were to happen sooner. Long term price targets could be previous ATH and even higher if it gains the right momentum and gets the necessary approval with great evidence. Long term hold for me. Will continue to update and add if price goes lower, I think the bottom will be between 4-6 but we would be lucky to see 4’s. Other players I am dabbling into are 
ATAI (owns roughly 20% of Compass) and $CYBN.
ATAI (owns roughly 20% of Compass) and $CYBN.Trade active
I have not given up on this. I took a bit of a break but did use the liberation day dip as a chance to possibly snag a bottom with that seeming to be the opportunity to capture some of the upside of the rest of this presidential term. Everything points to developments to see this sort of treatment get the FDA nod and crack the mainstream and names like ATAI (who still own roughly 7% of 
CMPS) could be and are likely severely underpriced if this takes place and I have made a basket of the two my largest risk/reward piece of my profile. Anything under $5 on dips probably still a good add when its all set and done for Compass, and $2 and less ATAI just to have more manageable risk.Note
That 5.25 cluster of previous lows will likely be the first major new resistance we see if we can sustain this breakout on larger timeframes. If that clears, this becomes a lot more safe of a buy for prolonged upside and probably sees a lot more inflows, my goal has been trying to be positioned before that, but if I were to DCA while we are moving up, i'd probably be looking to do it above that level, or taking the risk below 4.5. Right now my average cost for the trade sits around $3.67
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.