originally published Monday, February 01, 2021

All Biotech & Medical Stocks

Mindset Pharma is a company that is developing “psychadelics” for medical / therapy use, which is now a big growth sector. We are looking at it here because its stock believed to be forming a small base that will lead to an uptrend resulting in significant percentage gains.

It hasn’t been trading for long and a 6-month chart includes all of its history. It shows that after an intraday spike when it came to market it then drifted lower for a few weeks before settling into marking out what is believed to be a tight base pattern that will lead to renewed advance. A big reason that the pattern is expected to resolve with a break to the upside is the persistently strong Accumulation line shown at the bottom of the chart.

While obviously a speculative play, it is attractive to us here because it has potential for big percentage gains from the current price, while downside risk can limited by the expedient of placing a stop beneath the nearby support, say at C$0.74, and with this proviso it is rated a speculative buy here.

Mindset Pharma website

Mindset Pharma Inc., MSET on CSX, closed at C$0.89 on 29th January 21.

Posted at 9.15 am on 1st February 21.

The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stockmarket analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.