I got in at $3.66. Been in and out, trying to sell the rallies and buy the dip. It has been an interesting ride with some extreme gains. Needless to say that my position is bullish.
So... what's next?
My play with ZYNE is aimed at the CBD legislation that is expected at around October this year. ZYNE has many good patents, ready to market, and once CBD as an additive becomes 'legal', I think ZYNE is well set up to gain from that. I also particularly like that ZYNE is a USA based play.
The most recent move up seems a bit too extended, and with the current price level, volume will probably leave for other plays, for now. I see a target area of former glory, between $16.50 and about $23. Gann tells me we'll be trading in a bit of a wedge, sideways, if nothing bad happens. That means we'll see a bull flag of sorts, right until it is time for ZYNE again to choose direction.
As long as we hold the $12.90 level, and sustain an occasional dip, I think we should be ready to retest $16.48 in a few weeks.
For a long play, imagine ZYNE getting one of their Phase 3 medicine approved for marketing. BOOOM!!! I mean, that is exactly what happened with GWPH. 300% gains, for starters. Without Epidiolex, they would still be $50. Could take some time, but other than CARA, there really is no similar play in this industry. Therefore I think that these current levels are still a fantastic entry point. But keep in mind that failing trials will send a stock down just as hard.
#LongZYNE
So... what's next?
My play with ZYNE is aimed at the CBD legislation that is expected at around October this year. ZYNE has many good patents, ready to market, and once CBD as an additive becomes 'legal', I think ZYNE is well set up to gain from that. I also particularly like that ZYNE is a USA based play.
The most recent move up seems a bit too extended, and with the current price level, volume will probably leave for other plays, for now. I see a target area of former glory, between $16.50 and about $23. Gann tells me we'll be trading in a bit of a wedge, sideways, if nothing bad happens. That means we'll see a bull flag of sorts, right until it is time for ZYNE again to choose direction.
As long as we hold the $12.90 level, and sustain an occasional dip, I think we should be ready to retest $16.48 in a few weeks.
For a long play, imagine ZYNE getting one of their Phase 3 medicine approved for marketing. BOOOM!!! I mean, that is exactly what happened with GWPH. 300% gains, for starters. Without Epidiolex, they would still be $50. Could take some time, but other than CARA, there really is no similar play in this industry. Therefore I think that these current levels are still a fantastic entry point. But keep in mind that failing trials will send a stock down just as hard.
#LongZYNE
코멘트:
Landed on the 50MA. Now we need to see her stay above that...
🅱🄰🆁🅺🆆🄾🆁🆃🅷