ENVB trade ideas
ENVB Waiting for a Double Bottom Before EnteringIt is possible this one was missed, but I think there could be some trouble getting through this resistance. Mays volume was 10x where this resistance was, but it still didnโt get through. Possible this could trade sideways for a couple of months before retracing back down to the support level.
There is a double top on the daily RSI with bearish divergence, but not reading into that too much.
Going to keep an eye on the $2.79 level as well for possible support
ENVB | So Many Bullish Divergences | LONGEnveric Biosciences, Inc., a pharmaceutical company, engages in developing various cannabinoid medicines for cancer care. Its products pipeline includes EV104 for the treatment of osteoarthritis; EVM-101 and EVM-201 for the treatment of cancer related distress; EVM-301 for the treatment of mental health indication; EV102, a cannabinoid cream for topical skin application; and EV101, a cannabinoid and chemotherapy combination therapy. Enveric Biosciences, Inc. is headquartered in Naples, Florida.
$ENVB is gonna fall todayPupm&Dump trading strategy idea.
$ENVB is rising too much today.
The demand for shares of the company looks lower than the supply.
This and other conditions can cause a fall in the share price today.
So I opened a short position from $2,59;
stop-loss โ $2,77;
take-profit โ $2,22/MOC
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
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$ENVB Target PTs 5.50-6-7 and higherEnveric Biosciences, Inc., a biotechnology company, engages in developing various cannabinoid medicines to enhance quality of life for cancer patients. It has a pipeline of development programs for radiodermatitis, glioblastoma, and chemotherapy-induced neuropathy. The company is based in Naples, Florida.
Low volume Rocket Without ReasonThis stock had no volume, then shot up today after some minor deal news.
I bought it for a momentum trade, but lost 100.
Broke out from $3 so could correct all the way back down there, though it seems to trade with nasdaq currently. We may also bounce off this support up, as nasdaq comes back up from the gap closure.
ENVB Technical Analysis ๐งEnveric Biosciences Inc is a patient-centric biotechnology company focused on developing new-generation, naturally occurring chemical compounds, such as cannabinoids to improve the lives of those who are adversely affected by the side effects of cancer treatments.
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ENVB Technical Analysis ๐งEnveric Biosciences Inc is a patient-centric biotechnology company focused on developing new-generation, naturally occurring chemical compounds, such as cannabinoids to improve the lives of those who are adversely affected by the side effects of cancer treatments.
If you understand the idea,๐ฏ press a thumb up! ๐ Have a question? Don't be shy to ask! ๐ค Interested to study how to analyze charts, follow me!
My Weekly Opportunity WatchlistENVB and AEZS has positive sentiment to pickup, and some people are turning to AEZS out of excitement of a potential VXRT-like rise. DRCB is a decent entry for a long hold or a short term swing. WTI looks like it is going to go up w/ increased demand in gas and was previously oversold prior to picking up support levels. JDST will grow off of precious metals sentiment trending. Everything I'm saying is on an opinion based basis. Please invest at your own risk and do your own due diligence.