SNN - Uptrend Broke bearish on Lawsuit news, finding new support
SNNAfter 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 scheduled for end of April, with some forward Q1 guidance it may help. but would expect April to be fairly flat and trying to find new support. Now below all major moving averages as well as breaking the last two weekly supports at $4.65 and $4.40, closing just above at $4.42. level 2 data shows heavy resistance at $5.00
could possibly set up for a monthly break near end of April. $5.25 is break out level on the month
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