SNDL trade ideas
SNDL Lots of BullI know I basically just posted my position shorting this one at 1.9, but after reading around I'm the only bear around. I love this company so nevermind, look at all those bull signs.
I'm setting a stop loss at 1.85 when it hits 1.9. Hopefully it doesn't touch, and blows out into open waters. If it nestles above the resistance tomorrow I'm buying regardless if my stop loss went off or not.
My biggest concern is that MACD is already up there, but I think it might consolidate above $2.
Great support and Bounce, Robbinhood restricts MAX buy to 5 So this week was crazy SNDL stock was restricted on robinhood to max buy of 1200 shares then down to 5 shares. Currently you can sell as much as you want but to get in you are limited to 5 shares. I am holding because once that restriction is off I think this stock is going all out. (please do your own research also :) )
What are your thoughts on the long term or short term tradingSundial started high, after being sued it plummeted. It has has new management and is now one of the few cannabis companies that are debt free. What do you guys think, is this a long term stock, short term? Is it a bad investment in general?
SNDL - LONG (update)(update 1/7/20) - SNDL successfully climbed above our cyan resistance line and is now using it as support. SNDL tested the line as support once and did not break back under it. This gives us confidence that the uptrend momentum can now resume. We are now bullish!
Many possibilities exist in the world of technical analysis and ours could play out totally wrong, but we believe the odds are in our favor. If in the case SNDL goes down next week, the cyan line is of course our first major support. A break under that could trigger a sell to roughly $0.85. So keep em tight and ride the ride!
- HH