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Hi Everyone & Welcome New Subscribers,
This week has been tumultuous for broader markets to say the very least, with the Dow Jones down more than 900 points and the NASDAQ down more than 300 points, swings of -5%+ and -6% respectively, as pressure from China devaluing the yuan has made every global market their prisoner.
As we have all come to know and realize through trading the OTC over the years, investors and traders alike could rather care less about what’s going on outside of their realm.
Look no further than Sunshine Biopharma (SBFM), which was on our watch list at the start of this week as we eyed the .015 level as support, and has now turned into a true double by crossing the .03 level today after coming back to the support we suspected it might.
Even at today’s close of .0255, SBFM is up more than 96% this week, and considering what is going on elsewhere it would be very hard to complain with this kind of action.
The stock has been a traders dream to say the very least, offering multiple high percentage swings along it’s path upwards, and given the consistency of each dip in price being met with heavy buying, we’d be crazy to say (yet) that the trend is over.
Look for SBFM to retest the .02 level, where a dip below that price may offer another nice trading opportunity, and set up another favorable risk vs. reward scenario.
This has been the gift that keeps on giving, and although we believe that will inevitably come to an end (at least over the short term), there is still gas left in the tank, given the undeniable trend, to make another trade out of it before it’s all said and done.
Keep SBFM on your watch list again for tomorrow and don’t forget to take profits along the way!
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