After an impressive run up on high volume, SNDL is cooling off and returning back to a more reasonable buying zone.
Technical reasons for the trade:
→ Price has exploded on high volume. This means more eyes are on this stock, with people who missed the first move wanting in on the action
→ Very little volume traded overhead. When this breaks the old highs, it will fly.
→ Price retracing back into the RLZ
→ As per finviz stats, SNDL still has a short float of nearly 17% (!!)
Good luck!
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Technical reasons for the trade:
→ Price has exploded on high volume. This means more eyes are on this stock, with people who missed the first move wanting in on the action
→ Very little volume traded overhead. When this breaks the old highs, it will fly.
→ Price retracing back into the RLZ
→ As per finviz stats, SNDL still has a short float of nearly 17% (!!)
Good luck!
Hit the LIKE button if you find my analysis valuable and want to support me. Follow to make sure you don't miss any future trade ideas.