Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>STKL (NASDAQ: STKL): The company has just posted its quarter 3 earnings report.</a> </li> 
 <li> <span>2</span> <a>The adjusted EBITDA margins for the current quarter was 12.5%&nbsp;</a> </li> 
 <li> <span>3</span> <a>The Bulls are looking to reclaim the support level.</a> </li> 
</ul> 
<p>SunOpta Inc. (NASDAQ: STKL) declared financial results for the 3rd quarter of this fiscal year that finished on September 30, 2023. The organization showed a sales increment of 5.98% on a year-on-year premise. Furthermore, the firm has also recorded a volume development of over 5.5%. SunOpta kept up with its gross margin of 13.3% including all the startup costs in a similar quarter. The adjusted EBITDA margins came up to 12.5% with a value of $19 Million.</p> 
<h2 class="wp-block-heading" id="strong-sunopta-s-development-drivers-for-this-quarter-strong"><strong>SunOpta’s Development Drivers for this Quarter</strong></h2> 
<p>SunOpta’s key development drivers were acquiring shares with existing and new clients as well as extending their all-out addressable market. The company aimed to keep on progressing like they have done since this year’s start.&nbsp;</p> 
<p>They are also in the process of replacing their existing asset-based lending arrangement with a term loan and revolver structure. The management has said that they hope to set this up before the year is over. With its solid groundwork and leverageable capacity, SunOpta is confident in its direction and poised to deliver significant long-term sustainable growth</p> 
<h3 class="wp-block-heading" id="strong-ceo-expands-on-the-business-strong"><strong>CEO Expands on the Business</strong></h3> 
<p>According to Joe Ennen, the CEO of SunOpta, the company experienced strong revenue growth in the third quarter. This growth was driven by the increased sales of protein shakes, oat milk, and snacks. In addition, the divestiture of their frozen fruit operations after the end of the quarter was a major strategic move.</p> 
<p>&nbsp;This will optimize their product portfolio for growth and profitability, reduce debt, and strengthen their balance sheet. This will also create opportunities for capital allocation that will benefit shareholders, such as the potential adoption of a share repurchase program.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-stkl-stock-price-strong"><strong>Technical Analysis and Prediction of STKL Stock Price</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img loading="lazy" decoding="async" width="1600" height="763" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-198.png" alt="STKL Stock Price: Can Bulls Climb Support after Q3 Results?" class="wp-image-180097" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-198.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-198-300x143.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-198-1024x488.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-198-768x366.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-198-1536x732.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-198-750x358.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-198-1140x544.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   NASDAQ: STKL stock chart by <a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=NASDAQ%3ASTKL">Tradingview</a> (Daily time frame)
  </figcaption>
 </figure>
</div> 
<p>At the press time, the STKL stock price is trading at the level of&nbsp; $4.32. The bears have taken control as the stock made a gap-down opening at the start of this August. However, the bulls are trying to reclaim the immediate support level of $4.32. The immediate rate after claiming this support will be $8.41.&nbsp;</p> 
<p>Moreover, the 2nd resistance is at $11.04, while the 2nd support level is at $1.84, created during March 2020. The prediction for the STKL stock price will be bullish once the stock reclaims this support.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/11/07/palantir-technology-price-prediction-2023-2025-can-it-rise-more/" target="_blank" rel="noreferrer noopener">SunOpta Inc. </a>(NASDAQ: STKL) just released its quarter 3 earnings report. The company has made adjusted EBITDA positive with decent margins. The current share price is below the support level. The price prediction will be bullish if the stock can reclaim this level.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $4.61 and&nbsp; $1.84</p> 
<p>Resistance Levels: $8.41 and $11.04</p> 
<h5 class="wp-block-heading"><strong><strong>Disclaimer</strong></strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets or stocks comes with a risk of financial loss.</p>

STKL Stock Price: Can Bulls Climb Support after Q3 Results?

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