FrancescoMerlettini

FrancescoMerlettini

After moving into a flag from end of December 2020 to half March 2021, the price has been going sideways from March 15th, using 19$ as strong support area and 21.5$ as support. Within this channel the price has rebounded on support with volume on Apr 29th and May 13th and in my pinion is going to attach the 21.5$ resistance again in few days. In my personal...

FrancescoMerlettini

The H4 timeframe is suggesting interesting points which make still think that we are close to a rebound; as I recently shared, the 0.7$ area is extremely important has it is where three important trendlines are crossing (this is not visible frm this chart). Summarizing my points: 1- RSI showing divergence with price action, and it is rebounding for the third time...

FrancescoMerlettini Updated 

H4 charts shows how three main trendlines meet at 0.7$ point, exactly where the price is bouncing now. The purple line, the black line and the green line all meet at this point. I would not be surprised to see a reaction tomorrow from these current levels, and a second/third and fourth week of May definitely bullish, in my personal opinion!

FrancescoMerlettini Updated 

#SNDL is in my opinion very close to reverse the downtrend. Possible rebounce area at 0.7$, if not happening before. The one hour chart is showing a falling wedge being broken - with volumes - on April 27th and the price is now retracing looking for a pullback. Very interesting to see how this bullish wedge pattern is also supported by an RSI divergence: so,...

FrancescoMerlettini

After sharing my vision of SNDL in the short term, through an analysis of H1 chart, I would like to share my long term vision, using a weekly chart. After IPO in Aug 2019 (13$) there's been a lot of diluition of shares which brought the prices down to 0.2$. During this huge drop, the prices reacted on Jan 2020, reaching 3.9$ and creating the left shoulder. After...

FrancescoMerlettini

The technical analysis matches with the fundamental perspectives, suggesting a new bullish time ahead after two years of bearish trend. Immediately after rebounding from the 61.8 Fibo level (measurement taken from the big bullish move on a weekly trend) some news have suggested the interest of some Equity Funds of acquiring the danish company and, after that,...