Resistance

Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>SNDL stock price is below key moving averages showcasing bearishness.</a> </li> 
 <li> <span>2</span> <a>SNDL stock price showcasing bearishness in the previous trading session dropped by 4.73%.</a> </li> 
</ul> 
<p>SNDL stock price shows signs of weakness, losing the gains it made below the key moving averages. SNDL Inc. stock broke out briefly above the $2 trendline, but it was short-lived as the price was pushed down by the bears. 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 months, forming lower highs and lower lows patterns, facing resistance from the upper trendline, which prevented it from breaking out of the trend. The price action indicates that SNDL stock has been under selling pressure, and that 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 $1.61 with an intraday drop of 4.73%, breaking below the 200-day EMA, showing bearishness on the charts. Moreover, the intraday trading volume also shown a decline of 2.785 Million less than the average 10-day volume of 3.81 Million. The market cap of SNDL Inc. stock is $419.019 Billion.</p> 
<p>Over the span of a week, SNDL Inc. stock experienced a decrease of approximately 15.26%; this decline has been seen in the course of a month also – reaching around 14.81%. Looking back over a three-month period, SNDL shares have gained by about 8.05%. Furthermore, the stock’s performance throughout the year has been lackluster, with a year-to-date slump of approximately 23.33%.</p> 
<h2 class="wp-block-heading" id="strong-what-next-in-sndl-stock-price-1-or-2-strong"><strong>What Next in SNDL Stock Price – $1 or $2?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1272" height="577" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-301.png" alt="SNDL Stock: SNDL Stock Break Below Key EMAs; What Next?" class="wp-image-174936" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-301.png 1272w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-301-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-301-1024x465.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-301-768x348.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-301-750x340.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-301-1140x517.png 1140w" sizes="(max-width: 1272px) 100vw, 1272px">
  <figcaption class="wp-element-caption">
   Source: SNDL.1D.NASDAQ by <a href="https://www.tradingview.com/x/gHMo4KWI/">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>SNDL stock is currently below the 50-day and 200-day EMAs, which are providing support to the price trend. However, if selling pressure increases, the price could move to lower levels.</p> 
<p>The RSI is currently at 37, which is near the oversold zone. However, the 14-day SMA is above the RSI curve, which is a bearish signal.</p> 
<p>The MACD indicator is also bearish, with the MACD line having crossed 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/2023/10/03/sndl-stock-price-fell-7-will-sndl-lose-the-previous-gains/" target="_blank" rel="noreferrer noopener">stock</a> is bearish in the short term. However, if it can maintain above the $1.50 level, it could continue to rise in the long term.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>SNDL stock price halted near the value of $2.36 after breaking below the key moving averages. The MACD and RSI are indicating bearishness in the stock price. SNDL stock might touch lower levels in upcoming sessions.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:&nbsp; </strong>$1.48 and $1.35.</li> 
 <li><strong>Resistance Levels: </strong>$2.14 and $2.36.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is for informational purposes only and provides no 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: SNDL Stock Break Below Key EMAs; What Next?

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