SNDL - pot stock breaking outI took the position in this stock on Jan 28 and the astock already moved 48% up from my entry.
But I don't sell, expecting the stock to go much higher.
Reasons:
- Big accumulation volume
- Big round bottom
- Current breakout pattern
- Simpathy play with the other pot stocks: $TLRY, $CGC, $VFF, APHA, which are also ready for breakout
SNDL trade ideas
SNDL UpdateWas reviewing this the end of last week- Should have posted before now. Its very hard trading all these assets and posting charts too (esp after a good crypto weekend lol), but I think I may have an alternate pattern for SNDL. The price being so stable has me wondering if we aren't in a bearish shark pattern. This pattern could release us back down very quickly - or it could continue to hold and skyrocket up. Its not the best place to be in. However we have a very bullish pattern to reset to - if it does. MACD looking good- RSI looking ok.. we just need some volume to come thru. Targets are yellow bars. The diag line is hidden loss line- serves as a hidden resistance point.. if we break down ro up - it breaks somewhere near this line.
We shall see what develops, but I like this pattern much more than the previous. I am neutral to long..
Lets see what unfolds.
SNDL Lots of BullI know I basically just posted my position shorting this one at 1.9, but after reading around I'm the only bear around. I love this company so nevermind, look at all those bull signs.
I'm setting a stop loss at 1.85 when it hits 1.9. Hopefully it doesn't touch, and blows out into open waters. If it nestles above the resistance tomorrow I'm buying regardless if my stop loss went off or not.
My biggest concern is that MACD is already up there, but I think it might consolidate above $2.
Great support and Bounce, Robbinhood restricts MAX buy to 5 So this week was crazy SNDL stock was restricted on robinhood to max buy of 1200 shares then down to 5 shares. Currently you can sell as much as you want but to get in you are limited to 5 shares. I am holding because once that restriction is off I think this stock is going all out. (please do your own research also :) )
What are your thoughts on the long term or short term tradingSundial started high, after being sued it plummeted. It has has new management and is now one of the few cannabis companies that are debt free. What do you guys think, is this a long term stock, short term? Is it a bad investment in general?