SNDL Inc.Long
Is it finally happening again? ("SNDL Fortune Fractal" Part #3)
Everything has lead up to this point, the Technical Analysis (TA) and the Fractal Analysis (FA) have both played out exceptionally well and have lead to this moment of truth. By the end of this week, if everything continues to go as expected, we could be seeing the explosion of the fourth SNDL Fortune Fractal ( coined by yours truly :D ).
Let's go over what's happened:
1.) In the early stages we saw the price action firmly broke above the SMMA 7 line (refer to the bold purple circle on the chart) and we are currently seeing a retesting of price action at/around the SMMA 7 line.
2.) We have witnessed the predicted bounce of price action on the pink line within the RSI (refer to part #2). The bounce is depicted by the golden circle.
3.) As of the end of today, the MACD is showing signs of a reversal. The bear momentum is shown to be decreasing on the histogram and the blue line is about to cross the orange line (see chart).
4.) There are bull indicators everywhere! On the chart provided, we can witness a dramatic breakout to the upside from the bull pennant. Also, there is a flat-top bull pennant on the 10m chart, indicating increasing bull influence in the price action.
5.) We saw very healthy volume today. If we continue to see this amount of volume, I won't be surprised if the stock skyrockets even higher.
What to Expect/Look Out For:
I will be watching for the break of the bull pennant on the 10m chart, and additionally watch for a full reversal on the MACD (see the golden circle on the MACD). After that, I will refer to Step #3 of my Fortune Fractal Strategy for my exit signal and wait for the RSI to hit overbought.
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"We've been to the moon three times before, it's time to go back once again."
~Capt. Moki
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Disclaimer: To fully understand the basis of this post, I would suggest reading parts 1 and 2 of the 'SNDL Fortune Fractal" which can be found on my profile.
'Disclaimer: I am NOT A FINANCIAL ADVISOR NOR A FORTUNE TELLER! I expect all traders to do their own DD and trade according to their personal style and beliefs.
Let's go over what's happened:
1.) In the early stages we saw the price action firmly broke above the SMMA 7 line (refer to the bold purple circle on the chart) and we are currently seeing a retesting of price action at/around the SMMA 7 line.
2.) We have witnessed the predicted bounce of price action on the pink line within the RSI (refer to part #2). The bounce is depicted by the golden circle.
3.) As of the end of today, the MACD is showing signs of a reversal. The bear momentum is shown to be decreasing on the histogram and the blue line is about to cross the orange line (see chart).
4.) There are bull indicators everywhere! On the chart provided, we can witness a dramatic breakout to the upside from the bull pennant. Also, there is a flat-top bull pennant on the 10m chart, indicating increasing bull influence in the price action.
5.) We saw very healthy volume today. If we continue to see this amount of volume, I won't be surprised if the stock skyrockets even higher.
What to Expect/Look Out For:
I will be watching for the break of the bull pennant on the 10m chart, and additionally watch for a full reversal on the MACD (see the golden circle on the MACD). After that, I will refer to Step #3 of my Fortune Fractal Strategy for my exit signal and wait for the RSI to hit overbought.
---------------------------------------
"We've been to the moon three times before, it's time to go back once again."
~Capt. Moki
---------------------------------------
Disclaimer: To fully understand the basis of this post, I would suggest reading parts 1 and 2 of the 'SNDL Fortune Fractal" which can be found on my profile.
'Disclaimer: I am NOT A FINANCIAL ADVISOR NOR A FORTUNE TELLER! I expect all traders to do their own DD and trade according to their personal style and beliefs.
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