Resistance

Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>SNDL stock price decreased by 13.24% over the past seven days.</a> </li> 
 <li> <span>2</span> <a>SNDL stock price is currently trading at $1.90 with a drop of 4.40% in the last 24 hours and a market cap of $494.494 Million.</a> </li> 
</ul> 
<p>The SNDL stock price shows signs of weakness, losing the gains it made below key moving averages. SNDL Inc. stock had a brief breakout above the 200-day EMA, but it was short-lived as the price was pushed down. The buyers failed to maintain the momentum and started to exit their positions, resulting in a decline in the stock price.</p> 
<p>SNDL stock has been in a downtrend for the past week, facing resistance from the upper levels which prevented it from breaking out of the trend. The price action indicates that SNDL stock has been under selling pressure, and the buyers have been passive. On the other hand, the sellers have a strong advantage and continue to make short positions.</p> 
<p>At press time, SNDL Inc. stock was trading at $1.90 with an intraday loss of 4.40%, breaking below the 200-day EMA, showing bearishness on the charts. Moreover, the intraday trading volume was 4.956 Million less than the average 10-day volume of 8.348 Million. The market cap of SNDL Inc. stock is $494.494 Million.</p> 
<p>Over the span of a week, SNDL Inc. stock experienced a decrease of approximately 13.24%, but gained 15.15% in the course of a month. Looking back over a three-month period, the stock has gained by 39.71%, while the gains extend to around 23.38% over the last six months. Furthermore, the stock’s performance throughout the year has been volatile, with a year-to-date slump of approximately -9.52%.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-will-sndl-stock-price-break-below-1-mark-strong"><strong>Technical Analysis: Will SNDL Stock Price Break Below $1 Mark?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="455" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-709-1024x455.png" alt="" class="wp-image-170467" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-709-1024x455.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-709-300x133.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-709-768x341.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-709-1536x683.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-709-750x333.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-709-1140x507.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-709.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: SNDL.1D.NASDAQ by <a href="https://www.tradingview.com/x/tP9v6IJJ/">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>SNDL stock price is currently trading below the 200-day EMA, which is not supporting the price trend. However, if selling pressure increases, the price could break below these EMAs.</p> 
<p>The RSI is currently at 51.14, which is in the neutral zone. However, the 14-day SMA is above the MACD, which is a bearish signal. The MACD indicator is also bearish, with the MACD line crossing below the signal line. This indicates that the SNDL stock is likely to continue to fall in the near future.</p> 
<p>Overall, the technical indicators suggest that SNDL <a href="https://www.thecoinrepublic.com/2023/09/12/sndl-stock-price-shot-up-11-is-it-bullish-trend-reversal/" target="_blank" rel="noreferrer noopener">stock </a>is bearish in the short term. However, if it can maintain the $50 level, it could continue to rise in the long term.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>SNDL stock is showing weakness and bearishness in the short term, as it failed to sustain the gains it made above the key moving averages amid selling pressure. The stock price is currently trading below the 200-day EMA, which is a negative sign. The technical indicators, such as the RSI, the SMA, and the MACD, also indicate that the stock is likely to continue to decline in the near future. However, if the stock can hold above the $1.50 level, it could have a chance to recover and rise in the long term. Therefore, investors should be cautious and watch the daily time frame chart for any signs of change in direction before making their next move.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels</strong>: $1.71 and $1.51.</li> 
 <li><strong>Resistance Levels: </strong>$1.98 and $1.98.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.</p>

SNDL Stock Price Prediction: Will SNDL Inc. Break Below $1 Level?

Table of Contents

Thecoinrepublic.com

Other articles published on Sep 22, 2023

Binance v. SEC: Multiple Bitcoin Pairs Face Service Cuts Amid Court Clash

Tether’s Recent Developments: Stablecoin Loans and Global Partnership

Google Cloud Adds 11 Blockchains to BigQuery Public Datasets!

Crypto operator CoinShares launches U.S. hedge fund division

U.S. Senator Menendez is about to go to prison for bribery

Dogecoin Compared to Bitcoin - The Key Similarities and Differences

Join our free newsletter for daily crypto updates!