SNDL Potential EntryPossible Entry or Short for SNDL
Variables to consider are listed on chart, I am not a financial advisor, just a man with ideas.
SNDL trade ideas
SNDL: Each analysis, we hit a target! Let's see what's next.Hello traders and investors! Ok, so, our analyses on SNDL have been quite precise, as it nailed another target that we talked about in my last analysis. In fact, SNDL did hit all our targets with an astonishing precision. Let’s see if we can understand what’s going on again. And of course, my last analyses on SNDL were public, and you may just check the links below for more details, if you are curious.
In the 1h chart we have what seems to be a False Breakout from the resistance at $ 1.64, as the price went above it, but couldn’t keep up and close above the black line. Now the odds are that SNDL will seek one of its supports, and a good candidate is the area between the 21 ema and the $ 1.47 (red line, previous top).
Now, the daily chart:
The thing is, we have earnings soon, and this surely will bring some volatility and could ruin the short-term reading of the charts.
But this doesn’t change the bullish bias seen here, as we have higher highs/lows in the 1h chart, and it is above the 21 ema in the daily chart, and the volume increased yesterday. This means that pullbacks are opportunities to buy.
Let’s see how SNDL will behave in the next few days. Remember to follow me to keep updated about SNDL and other stocks I analyze every day. And if this idea helped, please, support it with your like!
Thank you very much.
SNDL: Target hit! What's next?Hello traders and investors! Ok, SNDL did exactly what was supposed to do since my last analysis, which is great. Let’s see the scenarios we can work with from now.
First, in the 1h chart, SNDL lost the support level at $ 1.32, which was an important key point for the short-term, and it sought its lower support, at $ 0.95, as we discussed in our previous analysis. If you missed my last analysis, which was public, the link to it is below, as usual.
But SNDL didn’t only hit the $ 0.95, but it did an amazing bullish candlestick pattern in this support area, called Tweezers Bottom . This was a clear buy sign, and what’s more, it is now doing higher highs/ higher lows in the 1h chart, and it did a bullish pivot when it defeated the $ 1.22.
The price is above the 21 ema (which is pointing up), and everything tells me we are in a short-term bull trend . Pullbacks to the 21 ema are expected, and shouldn't be enough to make you panic. Let’s see the daily chart for more clues:
The Tweezers Bottom in the 1h chart made this Hammer candlestick pattern in the daily chart, just above the $ 0.95, reinforcing our idea that this was a very important Key Point.
Also, it was not by chance that I saw the $ 0.95 as a support level. As we discussed in my last analysis, this point was previously a resistance on Dec 2020, and according to the Principle of Polarity, it was supposed to work as a support next. The market has memory, and it always remembers its key points.
Now, the next target is the $ 1.64, but as long as we don’t see a very powerful candlestick pattern, with a good volume , the movements on SNDL are going to be slow and boring.
And if you liked this analysis, remember to follow me to keep in touch with my daily studies, and support this idea with your like if it helped! The link to my previous analysis is below.
Thank you very much!
SNDL run is over but not deadI have made great money from SNDL on this recent run but the trend is going back down. "Sell in May and go away" is real and so are algorithms, take your profit or minimize your loss or you could be holding this several months. To back this up, take a look at SPY and the magnitude it is up over any moving average above 20. I will be watching this fall and following US law changes so you should keep it on your watch list regardless of this inevitable drop coming up. Look to get in early on a longer moving average bounce before November hits.
SNDL imminent short-squeezeMy previous technical annalysis for SNDL still intact.
SNDL is outperforming other pot stocks such as TLRY and APHA with a HUGE volume (300M) equal to about 3x the 10 MA, and about 10x the volume from TLRY and APHA, representing a 30% of SNDL market cap.
Volatility is extreme, I anticipate a high chance tomorrow will open gapping in green and final short-squeeze is very close, I aim to TP2 probably happening between Wednesday and Thursday. Make sure to take profits in between and most importantly, set stop loss!
EDIT : Volume already 450M+ !
SNDL Earnings this week. SNDL has been one that hasnt seen alot of action except for that big red candle which reached a 52 week high of 4 dollars. MACD is looking like its closing red and ready to turn green, while the RSI is steady for now. Earnings will be interesting to see what the company has in terms of plans for the future, and how they have been performing. Keep in mind any bad earnings report and this stock will fall below 1 dollar. But if earnings are positive we can see it go back to prior highs or reach new highs.
SNDL Sun dial
-Canadian cannabis company
What does Sundial Offer?
-CBD
-Cannabis
Process of creation for Sundial Products
- Self created environment
-computer monitored growth
- strict climate and monitorization
Company motto “ Safe and consistent cannabis”
-experienced growers
-researchers
-Quality assurance specialists
Team consists of companies industry leaders
Kellogg's, general mills, Molson Coors.
Health and safety is always our first priority. For our customers, we have implemented quality assurance checks at every stage of production, from planting seeds to packaging shipments. For our employees, walking through the doors at Sundial every day means feeling welcome and safe, both physically and emotionally. We take personal wellness seriously—it’s part of our brand, and it is an essential part of our culture.
Current market cap Enterprise value TTM
- 2.36 billion 2.44 billion 2.76
Share statistics Avg Vol (3 month) 534.56m
10 day average 267.85m
Outstanding shares 1.66b
2019 the marijuana industry was estimated at $13.6 billion.
15 states with legal recreational weed
Alaska
Arizona
California
Colorado
District of Columbia
Illinois
Maine
Massachusetts
Michigan
Montana
New jersey
Nevada
Oregon
South Dakota
Vermont
Washington
please do your own DD, SNDL is undervalued in the current space of the Marijuana industry with states starting to pass bills to legalize the consumption. Medicinal values will add tremendous growth to the company as canabis is consumed by the elderly and people who are going thru traumatic injuries, and chemo.
$SNDL looking like it's making a comeback? What will happen nextI am not sure what will happen, but I really hope it skyrockets, because I YOLO'd much of my portfolio on it in order to pay for my business which is launching an app for activism to save the world. I bought $.05 call options expiring tomorrow with a strike price of $1.50. Either an excellent idea or a terrible one! Let's see! To the moon!
Have fun! Good luck!
Not investment advice
$SNDL Sundial Growers Inc.This one is gathering some momentum.
Public float is 437M shares.
“ Sundial Growers Inc. engages in the production, distribution, and sale of cannabis products for the adult-use market It is also involved in the production, distribution, and sale of ornamental plants and herbs in the United Kingdom. The company offers its products under the Top Leaf, Sundial Cannabis, Palmetto, and Grasslands brands. Sundial Growers Inc. was incorporated in 2006 and is headquartered in Calgary, Canada. “
... I’m going to YOLO this one for a month or more and buy the DIPS (of which it has many).
When in doubt, look at a one and three month chart to see the TRUE DIRECTION of movement ~
SNDL ( Wall Street Bets)I want to start off by saying this opinion on SNDL is referenced to GME and other reddit stocks all related to Wall Street bets. SNDL has been extremely volatile these last six months and in my opinion will continue to be as the reddit craze continues. SNDL is still up 340% even after shedding more than 50% of its value in a month. These times have brought about many winners and losers in the market but if you look at GME which was on the verge of bankruptcy and being over shorted GME has capitalized by now reinventing themselves with new strategy in infrastructure and have appointed a new CEO for the coming times ahead.
Today GME hit a high of $343 displaying again the buying power from the individual investor being able to outweigh institutional bears. This changes the dynamics of trading when it comes to these reddit stock selections as it is no longer based on fundamentals but the volume in the market that it trades at. This challenges everything we know that is based on core financial data and is what also makes these investments so risky. However this pattern of trading in Its self is what causes these short squeezes identifying the companies being over shorted or even possibly counted out on purpose. This is done long enough to expire option contracts that are heavily shorting the stock to begin with. Again not based on profitability fundamentals for the company but the ability for retail investors to buy and hold shares long enough to cause the short squeeze exactly like we have seen several times with GME in particular.
I believe these methods can and will be repeated until some form of regulations occur but as I said there a lot of winners and losers in these events not just the individual investors but institutions as well. SNDL has been #1 and top 3 on volume trading over the last few months above AAPL and TSLA by a long shot even reaching past 1B in volume when SNDL's short squeezed occurred soaring it past $4 a share.
Currently trading a $1.31. a share SNDL is cash heavy at the moment in the upward parts of 670 Million dollars all from recent liquidation of the recent reddit craze that caused the short squeeze allowing them to take major profits. I see this as innovative and necessary as they have been burning cash fundamentally on constant decline.
However SNDL's has cleared their books recently and operate debt free with cash heavy stability also acquiring a strategic $22 million stake in (NDVAF) a cannabis infused edible company that is poised to profit from the edibles market that could exceed $11.5B by 2025.
SNDL has its earnings date set for March 17th 2021 to announce full year and quarter four of 2020 which will be negative but I believe the discussions for the cash heavy company to make acquisitions and further adjustments to capitalize off the recent spike in share price.
Something else notable is that currently there is a unusual options activity alert for SNDL at a strike price of $0.50 with an expiration date of 2021-03-19 my assessment is that bears are looking to profit off the fundamental reason this company should correct because the profitability is just not there on the books. This leads back to my point Reddit stock selections and Wall Street bets are always trading at retail value and will continue to purchase the ask price as this apart of the method for the short squeeze to occur.
Essentially this is a stock war and only the ones with the stomach for this will profit from this but this is definitely something to consider when It comes to identifying the short squeeze before it occurs. I am long in this because I believe the company has the capital to sustain them selfs for years to come and will make necessary adjustments and acquisitions to gain profitability. Also a big X factor is new legislation being passed in the United States and with more traction and awareness then ever the path to legality for recreational marijuana is not far off and in many deciding states is already a reality. With this will come a boom inside the cannabis industry as we have already witnessed in recent events and will continue to unfold in the near future.
*Disclaimer
This is not financial advice
SNDL (NASDAQ) - Potential to BullishGreetings
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Strategy
- Please care for Money Management
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SNDL (NASDAQ) - Potential to Bullish
