SNDL: The most important Key Points we must keep in mind!

2021年3月29日

Hello traders and investors! Let’s talk about SNDL again! Since our last study, it hit our target at $ 1.25 and it lost this price level, which now seems to be working as a resistance. If you missed our last analysis, the link to it is below this post.

Ok, SNDL didn’t react around the $ 1.25, and it retested it as a resistance, following the Principle of Polarity, and we have lower highs/lows in the 1h chart. What’s more, it seems we have a purple trendline guiding the past top levels, while the 21 ema works as a resistance zone as well. Probably the trendline and the 21 ema are the most important key points for both, short and mid-term.

All of this is a clear statement that the trend is still bearish, and we have yet to see a clear reversal pattern. Now, let’s see the daily chart:



The idea of an Inverted Head & Shoulders pattern still exists, but it gets weaker as the time passes and SNDL doesn’t trigger it. It did a Piercing Line pattern (as evidenced by the blue square), but if the price loses it’s low, then the $ 0.95 is the next target for it.

We must see a good reversal pattern in the 1h chart before we see it reversing in the daily chart as well, but it seems SNDL is in a very delicate situation and whatever if it is bullish or bearish, we’ll have our answer very soon.

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Thank you very much!