I know SNDL is still living in Reddit/Meme territory, but there are also some very solid (TA) indicators that could mean we're in for another push.
Chart above has call outs for major points of consideration, but will recap here as well:
- Each push that SNDL has made, comes back to the . line (which is a pretty sizable pull back).
- The most recent push has already made that pull back.
- We have touched the 50 day moving average and the long term support line .
- Each time in the past the 50 day moving average and support line have been touch there's a big push that follows
The only caution I see here is the overbought position on the (1 day candles). We could see a drop in the next day or two, but I don't see that impacting the over all trend. It could be another test/tap on the support line before a big push.
Lots to consider here, but it feels like we have some pretty strong signs for SNDL in the coming weeks.
Keep an eye.
Montley Attacked it all weekend
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In Feb SNDL filed shelf to float the entire company
Canabis industry was down overall today.
I'm currently at a loss holding from January 28, halt killed momentum I bought top.
As I said, they ordered a shelf to float 1bn$ in new shares. They only have a 2bn market cap.