- Price broke below previous all time low of 2.85 closing at 2.56
- Next level of resistance at 1.45
- RSI is weak below 40
- No signs of reversal just yet
CSE:SNN After 6 weeks of tightening ranges Sunniva broke bearish on news of a data breach and lawsuit. While this stock has promise based on fundamentals, the chart is not set up very well for low risk entries. Some chances here for a bottom fishing play might be possible but, $5.00 is a key level to close above and hold on a daily basis. Q4 financials are...
Jan 9 SNN:
My take: So volume tapered right back today, declining bear volume. We had a big move up with almost 1 million shares in volume in 8 days and we have not had a big rush to take profits, bulls just needed a breather
Todays range was between $5.00 as the high and $4.75 as the low, with low coming at end of day thought there is a discrepancy in close...
My Take: Ideally I think we would see a push up to 4.80 and possibly love 5's on Monday and then consolidate over 2-3 days in mid to low 4's ($4.20 and 50 dma at ~$4.10) before pushing back above 5. The $5 price range is going to take support and conviction, along with a bunch of new buyers as we had the bought deal at $5.27. With psychological resistance at 5,...
The cannabis sector is like the dotcom or the tech boom that went from explosion to implosion. Now it starts to get interesting in the new market. The extreme speculative and euphoric time is over and now it begins the value pricing. I guess there will be one more leg down and then the blood is all over and real investing begins.
Companies like Aurora, Canopy...
