SNDL: The most important Key-Point for the short/mid-term!
Hello traders and investors! Let’s see how SNDL is doing today! Since our last analysis, it didn’t move much, but on the bright side we still have some good stuff going on here. Let’s talk about it.
First, it seems the support level around the $ 0.95 is working as a nice support level, indeed, as we already expected weeks ago. It did a good sign on April 8, when it did this nice Harami candlestick pattern, but SNDL is quite weak, and now it is back to the support level.
But again, it is a support level, so, there’s not much to do, but wait for a reaction. In the daily chart the support at $ 0.95 is clearly the most important key point to keep in mind for now:
If we see any reaction around here, SNDL could easily retest the $ 1.64, at least. The $ 1.64 was a previous resistance, and now it is a target for us, but only if SNDL does anything good around.
What would take for it to react? First, the volume – it must increase in order to form a nice bullish structure. Second, we must see a bullish pattern in the daily chart that confirms the possibility of a reversal.
Reversals are risky plays, but since the R/R ratio is quite good, it is worth to trade it. Let’s follow SNDL closely, and if you liked this analysis, remember to follow me to keep in touch with my daily studies, and please, support this idea!
Thank you very much!
First, it seems the support level around the $ 0.95 is working as a nice support level, indeed, as we already expected weeks ago. It did a good sign on April 8, when it did this nice Harami candlestick pattern, but SNDL is quite weak, and now it is back to the support level.
But again, it is a support level, so, there’s not much to do, but wait for a reaction. In the daily chart the support at $ 0.95 is clearly the most important key point to keep in mind for now:
If we see any reaction around here, SNDL could easily retest the $ 1.64, at least. The $ 1.64 was a previous resistance, and now it is a target for us, but only if SNDL does anything good around.
What would take for it to react? First, the volume – it must increase in order to form a nice bullish structure. Second, we must see a bullish pattern in the daily chart that confirms the possibility of a reversal.
Reversals are risky plays, but since the R/R ratio is quite good, it is worth to trade it. Let’s follow SNDL closely, and if you liked this analysis, remember to follow me to keep in touch with my daily studies, and please, support this idea!
Thank you very much!
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