AndyTheKing

SNDL - Follow the money

Long
NASDAQ:SNDL   SUNDIAL GROWERS INC
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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Comments

You think it's going to drop all the way to 0.72 before the reversal?
Reply
@bnoden, Anything can happen, 0.72 is where the most volume has been traded over time. I think around the 1.00 mark is realistic if the market state weakens over the next few weeks. There were a lot of fomo buyers above 2.00!
+1 Reply
Excellent point
Reply
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