On this analysis, we can clearly see the repeating patterns that SNDL been forming on its chart.
-It is pretty clear how SNDL is in love with the Ascending Triangles.
-While some triangles took days till the breakout (rise), some took months (purple triangle). So it really depends on market sentiment and investor's confidence.
-The recent big rise again followed by a nice drop which brought the potential for another Ascending Triangle formation.
-Another fact about the patterns is that every rise was followed by a bigger rise! But also every drop was bigger (in percentage) than the previous drop.
For ex: While the first 2 drops were 24% and 40% big, the next 2 ascendings had a drop of 60% and 50%. And lastly, the recent drop was 70%. So each time,
the returns are bigger, but the risks are getting bigger too!
-Currently, the length of the triangle is 1 month and 14 days. The longest time it took to break the triangle (purple triangle) was 2 months. Looks like we are going
for the 2 months long triangle formation again!
-With the given lost confidence among investors due to the market volatility and rising bonds, it is more probable that SNDL will wait for couple more weeks to fill the 2 months period for another breakout and rise.
-ATR is also getting close to its Volatility support level, but still has some space to drop. Probably will cause a little more drop in SNDL price as well.
-It is pretty clear how SNDL is in love with the Ascending Triangles.
-While some triangles took days till the breakout (rise), some took months (purple triangle). So it really depends on market sentiment and investor's confidence.
-The recent big rise again followed by a nice drop which brought the potential for another Ascending Triangle formation.
-Another fact about the patterns is that every rise was followed by a bigger rise! But also every drop was bigger (in percentage) than the previous drop.
For ex: While the first 2 drops were 24% and 40% big, the next 2 ascendings had a drop of 60% and 50%. And lastly, the recent drop was 70%. So each time,
the returns are bigger, but the risks are getting bigger too!
-Currently, the length of the triangle is 1 month and 14 days. The longest time it took to break the triangle (purple triangle) was 2 months. Looks like we are going
for the 2 months long triangle formation again!
-With the given lost confidence among investors due to the market volatility and rising bonds, it is more probable that SNDL will wait for couple more weeks to fill the 2 months period for another breakout and rise.
-ATR is also getting close to its Volatility support level, but still has some space to drop. Probably will cause a little more drop in SNDL price as well.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.