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Good morning!
Coming off a really hot day of trading on Tuesday where I scored big wins on ELF and QQQ, I am fired up and ready to attack things again today!
Top on my list today is one of the strongest stocks I have shared with you recently.
While trading is never “easy,” buying the dips on this stock has worked 100% of the time over the last year. In fact, this stock just notched another 52-week high yesterday before pulling back slightly.
Pull up Cardiol Therapeutics Inc. (CRDL) on your platform right now and let’s dig into it.
The first thing I want you to look at is CRDL at a high level view.
Just look at the daily chart over the last year. Isn’t this a thing of beauty?
So far this year, there literally has not been a time to buy this stock where it didn’t produce gains. It has just been making consistent new highs.
Now, zoom into the hourly chart and take a look at my favorite indicator for timing my entries – the 20-hour reversal.
Below, you can see how CRDL has reacted every time it crossed back above the 20-hour level (yellow line), after being in a short downtrend…
Not to brag, but see that circle where I told you about it last time?
CRDL is now over 50% higher in just over a month since that alert… Not too shabby!
The point is I want you to always focus on 20-hour reversals. That is my bread and butter when it comes to trading.
Go review my email on ELF from yesterday, to see another great example. That helped me bag a $20,000 profit on that stock in a few hours using the exact same setup.
While nothing ever works 100% of the time, I have found that to be the single best indicator I rely on.
Now, when a stock like CRDL is in a major uptrend, it is hard to determine what levels to look at.
Nearly every week there has been a new 52-week high, so trying to gauge when it will end or how far it will go is a tough call to make.
I might sound like a broken record, but I’ll just say from my experience, I will stay in a bullish trend like we have on CRDL until it breaks for at least full day under the 20-hour moving average.
That’s how I determine when to go the sidelines. Then of course, I wait for the trend to resume once again when it trade back above the 20-hour, just like we are seeing today.
I think people over complicate trading a lot.
Finding great stocks, and then patiently waiting on uptrend continuations is not a tough thing to do.
We have both of those right now with this stock.
That’s why I think it is extremely important for you to keep a close eye on CRDL today.
Just for fun, I pulled up the technical opinion on Barchart this morning to see what their system says about CRDL.
It is just about when you imagine. Perfect “BUY” ratings…
Cardiol Therapeutics Inc. (CRDL) is a clinical-stage life sciences company developing cannabidiol-based products to treat heart diseases.
In the wake of Covid, pericarditis and myocarditis have become household names…
Most people now know that these are inflammatory heart conditions that can significantly impact quality of life — and sometimes even prove fatal.
What they don’t know is that these conditions have very few effective treatments.
Partnering with healthcare heavyweights such as the Mayo Clinic and Cleveland Clinic, Toronto-based CRDL is working to address these significant unmet needs.
Importantly, many studies have shown that cannabidiol (better known as CBD) can inhibit multiple inflammatory pathways that are activated, particularly in cases of pericarditis and myocarditis.
The company’s lead drug candidate is a novel prescription-strength cannabidiol product named CardiolRx™ that has already been granted FDA orphan drug designation (ODD) for treatment of pericarditis, and it is eligible for ODD for treatment of acute myocarditis.
CardiolRx™ has already progressed into two Phase II trials: the MAvERIC-Pilot study for the treatment of recurrent pericarditis (RP), and the ARCHER trial for the treatment of acute myocarditis (AM).
The MAvERIC-Pilot study is chaired by Dr. Allan Klein, who is also the director of the Center for the Diagnosis and Treatment of Pericardial Diseases at the Cleveland Clinic, one of the largest pericardial disease centers in the world.
CRDL picked the right man for the job. Dr. Klein was also the principal investigator for the Phase III trial of the first FDA-approved drug — Arcalyst — with an indication specifically for RP.
Not only does Arcalyst have an extraordinary price tag of $270,000 per patient per year, the drug can also suppress the immune system, potentially causing serious infections.
Nevertheless, despite debuting recently in 2021, Arcalyst brought in $233.2 million in 2023, and it’s expected to bring in $360–380 million this year.
Clearly, this market is ripe for competition.
CRDL achieved 100% enrollment in the MAvERIC-Pilot study in February and said on May 14 that it expects topline results early in June.
Significantly, clinical development of Arcalyst proceeded on an accelerated 3-year timeline, and CRDL appears to be using the Arcalyst trials as a template for its own.
Their other Phase II trial — ARCHER — is chaired by Dr. Dennis McNamara, director of the heart failure/transplantation program at the University of Pittsburgh Medical Center, and the co-chair is Dr. Leslie Cooper, Jr., who is also chair of the Mayo Clinic Enterprise Department of Cardiovascular Medicine.
Right now, there are no FDA-approved therapies for acute myocarditis, so there is a major unmet need here — there are an estimated 46,000 AM cases each year in the US.
The trial recently exceeded 85% enrollment, and CRDL expects to reach full enrollment in Q3, ahead of the expected schedule.
CRDL has reported $28.5 million in cash and cash equivalents as of March 31, giving it a cash runway that it expects will fund operations into 2026.
For more on the company and its potentially breakthrough therapies, check out this excellent presentation the company released this month.
Spend time right now doing your own research on the stock, and of course, always approach your trading in a responsible manner. Trading is very risky, and nothing is ever guaranteed, so never trade with more than you can afford to lose. Please read the full disclaimer at the bottom of this email as well so you are aware of additional risks and considerations. Always have a well-thought-out game plan that takes your personal risk tolerance into consideration.
Bottom line: This has been one of my top stocks to follow for a long time now, and right now I think it is once again an exceptional time to look at CRDL if you have taken it off your radar. This is one of the few nearly flawless looking charts over the last year, as it has been in a massive uptrend.
Make sure CRDL is top on your watchlist today!
To Your Success,
Jeff Bishop
*Just so you know, what you’re reading is curated content for which we have received a monetary fee (detailed below) to create and distribute. Let’s be clear that investing can be quite the roller coaster as stock prices can have wild swings up and down, so consider those crucial risks before you ever consider trading anything we discuss. Make sure you check out our full disclosure down below for the details on how we were paid, the risks, and why these results aren’t what you’d call “typical.”
Just a quick heads up about this ad you’re reading—as we’ve said, even though we like the company referenced above, and all the facts we discussed above are true to the best of our knowledge, we are running a business here. To distribute this information and help offset the costs of maintaining our large digital audience, in advance of writing the content above, we received seventeen thousand five hundred dollars (cash) from Shore Thing Media for advertising Cardiol Therapeutics Inc for a one day marketing program on June 12, 2024. This amount was paid by someone else not connected to Cardiol Therapeutics Inc. It might be obvious, but whoever paid for this might own shares and is likely looking to sell some or all of them at any time after we send out this information, which might affect the stock price. We may also buy or sell shares in the company at some point in the future, although neither RagingBull nor its owners own any shares of the company at this time. Before that, we were paid fifteen thousand dollars directly from Cardiol Therapeutics Inc. for advertising purposes for a one day program on April 30, 2024. Also, keep in mind that due to the sheer size of our audience, if even a small percentage of people decide they want to buy this stock, it could potentially boost interest enough to hike up those share prices and cause a temporary spike, and the opposite is possible as our program ends, though that is not always the case.
Now, diving right into Cardiol Therapeutics Inc might sound exciting. But remember, it’s like venturing into the wilderness—be aware that there’s exceptional risk involved in trading. This isn’t small potatoes we’re talking about; you could lose every dime you put in, so always carefully think about what you’re doing. That’s why they call this trading, after all. We’re shining a light on the good stuff about the company here, but it’s on you to do your homework, make your own calls, and determine a plan for your own trading, hopefully with the help of your professional 1nvestment advis0r.
Oh, that brings us to another crucial point—we’re not here to tell you (or even recommend) what you should do with your hard-earned money. We’re simply sharing our non-expert thoughts by highlighting some companies we like that could use some help telling their story to more people. We’re obviously biased in our writing. We’re not here to dig into anything that may be negative about the company; this is advertising, after all! Also, keep in mind that if we make some predictions about the future, these are technically known as “forward-L00king statements” under the securities acts, so take those with a grain of salt. As with all forecasts, they’re not set in stone, often wrong, and we certainly can’t know where the Company’s earnings, business, or share price will be tomorrow or a year from now.
Everything you read from us is all for your education, information, and possible entertainment. While we believe the info is reliable and accurate, we can’t wear a cape and guarantee it. Before you jump into anything, make sure to talk it over with a pro—someone you trust who’s licensed to give you real advice. To be clear,
Neither Raging Bull nor its owners, employees, or independent contractors are registered as a secur1ties br0ker-dealer, br0ker, 1nvestment advis0r (IA), or IA rep’s with the SEC, any state securities regulat0ry authority, or any self-regulat0ry organization.
So, that’s the scoop! If you’re intrigued and want to learn more about the companies we talk about, hit up the SEC’s website to dig into their filings and see the full picture.