SNDL: There's no hope for SNDL? Maybe there is.
Hello traders and investors! Let’s see how SNDL is doing today!
The support level at $ 0.95 didn’t hold the price at the first moment, but SNDL is trying to do a nice reaction right now. For the first time in more than one month, we have a clearly higher low in the 1h chart.
This means that if SNDL breaks the $ 0.95 again and triggers the pivot point at the black line at $ 1.03, it’ll trigger a reversal pattern that could make SNDL fly again. This pivot point is so important because it can reverse the bear trend in the daily chart as well:
Finally, the volume is increasing again, which is something we needed for a long time. We talked about how the volume must increase for SNDL to start a new movement in our last analysis, and if you missed it, the link is below as usual.
Now the volume is increasing, which is good, but today’s candlestick pattern is quite frustrating, right? Yes, but the pivot point at $ 1.03 is the most important key point for the short-term, and regardless of how the candlestick looks at the end of the day, it won’t change this key point.
If SNDL is serious about reversing the bear trend, it must do a very strong bullish structure, and these things take some time, so, let’s calmly wait for more clues in the next few days.
And if you liked this analysis, remember to follow me to keep in touch with my daily studies, and please, support this idea if it helped you!
Thank you very much!
The support level at $ 0.95 didn’t hold the price at the first moment, but SNDL is trying to do a nice reaction right now. For the first time in more than one month, we have a clearly higher low in the 1h chart.
This means that if SNDL breaks the $ 0.95 again and triggers the pivot point at the black line at $ 1.03, it’ll trigger a reversal pattern that could make SNDL fly again. This pivot point is so important because it can reverse the bear trend in the daily chart as well:
Finally, the volume is increasing again, which is something we needed for a long time. We talked about how the volume must increase for SNDL to start a new movement in our last analysis, and if you missed it, the link is below as usual.
Now the volume is increasing, which is good, but today’s candlestick pattern is quite frustrating, right? Yes, but the pivot point at $ 1.03 is the most important key point for the short-term, and regardless of how the candlestick looks at the end of the day, it won’t change this key point.
If SNDL is serious about reversing the bear trend, it must do a very strong bullish structure, and these things take some time, so, let’s calmly wait for more clues in the next few days.
And if you liked this analysis, remember to follow me to keep in touch with my daily studies, and please, support this idea if it helped you!
Thank you very much!
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