SNDL) CHoCH Above $3 Possible?

SNDL Inc. is a company that operates in the cannabis industry in Canada. It has four segments: Liquor Retail, Cannabis Retail, Cannabis Operations, and Investments. It grows, distributes, and sells cannabis for both recreational and medical use; operates liquor stores that sell wines, beers, and spirits; and runs retail cannabis stores that are owned or franchised by the company.

It also makes and distributes inhalable products, such as flowers, pre-rolls, and vapes. It sells its products under the brands Top Leaf, Sundial Cannabis, Palmetto, and Grasslands. The company used to be called Sundial Growers Inc. until it changed its name to SNDL Inc. in July 2022. SNDL Inc. was founded in 2006 in Calgary, a city in the Canadian province of Alberta.

At the press times, SNDL stock price was $1.76 with an intraday loss of -1.68% trading above the major EMAs, showing that bears are in control over the charts and bulls are attempting gradually. Moreover, the intraday trading volume of SNDL is 5.142 Million more than the 10-day aggregate volume of 5.142 Million.

The price action shows that SNDL Inc ( NASDAQ: SNDL) stock price took resistance from a high of $9 on March 25th and made lower highs and lows and made continuous breaks of structure till $1, the downward rally consumed almost 86% by June 23rd. Thereafter, the SNDL stock price stopped forming new lows and tried to take support and rise slowly and tried to take trendline support as well.

Moreover, it is also noticed that the stock earnings and reports were declining from the last year, and in the last three quarters there have been no earnings and revenue, the company is barely managing. 

The SNDL stock faced rejection at a high and the price declined and broke all Fibonacci levels one by one and failed to sustain. Since it is observed on the chart that the price is rising, it needs to rise above the Fibonacci level of 23.60% around $3 for a change of character in the price.

Therefore, If SNDL fails to maintain its current level, the SNDL price could continue to drag downwards and hit the nearest support levels around $1.5 and $1.

Alternatively, if the stock price sustains the current level and SNDL’s price increases, then it might reach the nearest resistance levels of $2 and $3.

Technical Analysis of SNDL Stock Price in 1-D Timeframe

SNDL Stock Forecast: Is (NASDAQ: SNDL) CHoCH Above $3 Possible?
Source: SNDL.1D.NASDAQ by TradingView

At the time of publishing, Sndl Inc. (NASDAQ: SNDL) is trading above the 20, and 50 EMA and MACD is positive but the histogram gap is slim and RSI is around 58 and took support on 14 SMA.


SNDL Inc. (NASDAQ: SNDL) stock prices are neutral to bullish on the 1-D time frame. The price action for the SNDL price predicts a neutral to bullish outlook at the time of publishing. The technical analysis tools of the Sndl stock price also support neutral to bullish hints. The EMA, RSI, and MACD highlight consolidation to upward hints in the SNDL share price.

Technical Levels

  • Support levels: The nearest support levels for SNDL price are $1.5 and $1.
  • Resistance levels: The nearest resistance levels for the Sndl stock price are $2 and $3.

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Nancy J. Allen
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