Guys, i can't believe i can't believe i'd ever been making this video. This is. This is so insane to me. Oh man, as you read by the title, we're gon na be talking today about sundial, which is a stock that i never thought would probably touch a dollar in the next year.

But here we are and we're going to give you guys the best possible scenarios here. The good entry points etc, let's just get right into the video. What is up everybody welcome to trace trades. We have technical analysis on different stocks in the stock market, as well as potential buy holders sell opinions on these given stocks, i like the premise by saying that i'm not a financial advisor nor expert so take what i say with a grain of salt.

The reason i started this channel is because a couple years back, i was about 30 000 deep in some medical debt, and i was very fortunate to have some close family friends and mentors that pushed me to work hard and invest my money, and i am happy To say that not only am i not financially free, but i'm doing pretty well for myself at the age of 23.. So if i can pass along the information, resources or tools are given to me here, the community make a couple people better off than they were before. That's all that i can ask for last. If you want to mine, drop a like on the video and consider subscribing, if you like, to see more content like this now today, we're gon na be giving you an analysis on uh, ticker symbol, sndl, sundial growers incorporated man i'll tell you what i never thought.

I'd see the stock doing something like this and it is pretty insane so we're gon na look at this. Both macroscopically and microscopically. Give you uh give you a couple different entry points exit points if you're looking to get into this stock level off some support and resistance, i've got three different indicators pulled up, which are the rsi the relative strength index. Anything over 70 is overbought.

Anything under 30 is oversold and then two other indicators right here, the 200 ema and the 15 ma the 200 ema is the exponential moving average. This is a price action based valuation trend line over a 200 day moving period and then the 15 day m, a which is the moving average. Some brokerage accounts call this the sma, the simple moving average, and this is a 15 day price action based valuation trend line. So we'll talk about what these mean, give you both some bullish and bearish patterns that i'm seeing on the charts here.

Let's just dig right into the video, so essentially what is happening right now is sundial was a very squeezed stock. They saw a lot of uh a lot of pressure for for buyers to step in and squeeze some shorts, and if we pull up sundial short interest on uh fintel, we're gon na pull that up for you right now, so that you can see what this looks. Like and it is, it was pretty high. The overall short volume is 503 million compared to the total market volume of 1.72 billion.

That's the total short volume ratio 29, which is 503 million, divided by 1.728 billion in comparison to what this looked like previously. That is 255 million, so they doubled up. So basically, what happened is short step back into the stock and double down on their convictions, trying to make back some of their losses from the squeeze here. And what does that mean guys? It means exactly what it sounds like: it means that there is still potential for this thing to possibly run.

I i can't believe i'm making this video, but um sundial actually doesn't look that bad right now. Yesterday they were a nice clean, upward, moving channel. This is very easy for you, guys to do all you're doing is connecting what is very obvious to the eye right. So we see that there's a trend line, uh ascending here level of support that is riding and hugging along the price action here.

So we see one two, almost three, four five different candle, wicks touching and that's essentially acting as a level of support being very well respected by the price action and on the flip side we also have an ascending level of resistance. One two, three four: five: six. Seven different touch points here and that is being respected as an ascending level of resistance. Now that is a clean upward channel, that is a nice nice price action and indicates to me a lot of buying pressure.

We've got a nice hammer. Candle right here, also known as the shooting star and what that means is there's a long bottoming tail on the candle right here, which typically indicates uh weak, weak overall selling pressure and strong buying pressure. So you do like to see that that is overall, a good thing. You've got two doji candles, which can be both bullish and bearish in nature, but in this instance with uh, with the stock being in an ascending formation right.

An ascending channel doji candles are typically bullish indicators and and mean that the stock is likely to continue a nice run. Now i did break below this channel right now, but that doesn't concern me a whole lot because we're not retracing that harshly. So if you look at the overall price action here, we are still setting higher lows and higher highs and if we do a retracement with a fibonacci, this is very easy to do. Click on fibonacci retracement you put the base at the bottom of the run-up.

The peak at the top of the run-up - and it tells you how much a stock is given back now, a strong stock, a stock on the chart that is looking extremely good, will retrace to about 50, which is exactly what we see right here. 50. Almost to a t - and that indicates to me that there's a lot of strong buying pressure right now and uh - not a lot of strong selling pressure, so sundial could definitely 100 continue to squeeze. But i want you guys to be careful on getting into the stock on the entry point that you decide to choose right, because this has been overbought for quite some time.

We saw a little run up right here up to about a dollar 36 almost tested that level here again didn't quite get it, but we tested it again uh, and i think that it's pretty likely that we see another retest here in the near future. So what is a good entry point? What should what should you be looking at as a potential entry point to get into this stock? Well, if we draw up and i'm going to delete the fibonacci here, real quick just to keep the charts clean, you draw up a level of uh support right now. We've got one two three four, almost five different kind of wake touches right here, and that indicates to me that this is a significant level of support being respected on the charts by quite a few different levels of price action. So the safest entry point that i can see right now.

This doesn't tank is a dollar six. Now what happens if it breaks below a dollar six? I want to present you with the best case scenario and the worst case scenario, so that can get you ready for whatever happens with the price action here. Well, we do know that we've got another level of uh support right here with one two three, four, five. Six seven different candle wick touches at one dollar and one cent and beneath that we've got one more level of nice.

Looking support sitting at about here about 92 cents, one two, three, four, five, six, seven, eight different candle wicks touching, and that indicates to me that we've got a couple different fallback positions. So, if you're patient with the stock, what i would watch for is something hypothetically. Like this, so if we zoom in here - and we just hypothetically say all right so right now we're going to see that this stock decides to bounce. So you see a little pusher down here.

It re-tests this this level of uh support and then it sees it. Bounce well, if you see a bounce and with a wide range candle bar and what i mean by a wide range candle bar is a candle bar that covers a lot of price action. Something like this. This is a wide range candle bar.

So if you see a wide range candle bar like this bounce off of that level, support that's to me indicates that that's going to be the bottom for the day. Unless you see some extreme selling, pressure come in some shorts continue to come into the stock and try to push the price down. But if you don't see that you see you see a small candle bar, you see a a, not a wide range candle bar. It could do something like this a little bit of a bounce and then it retests this level and perhaps breaks through well.

You can see it pan out a couple different ways. You might see it test this level of support it might push through here and it might test out a lower level of support down here. So what you're watching for is a wide range candle bar to give you confirmation of buying pressure stepping back in and confirming that this stock is not going to dip below that price. Now, let's see if i can find you a confirmation here, this is an exact setup.

That is the flip of what you're looking for so take this and reverse it you'd be seeing you'd be seeing a a red candle right here right, followed by. I should say a green green candle right here, so you see it bounce followed by a red candle on top, followed by a green candle, bouncing off of that level of support right so take these and move them up just a hair. So, in the flip side, right now you see this wide range candle bar, followed by a red candle bar and then a green one. This is called a three bar plate, so a three bar play is a wide range candle bar, followed by a smaller red candle, followed by a green candle, pushing above the level of resistance right.

On the flip side, you can have a three bar plate on the downside, so if you see that happen right here and it dips below that to me indicates that you're seeing a little bit of uh, you know tip toeing around the line. You want to see a wide range bar that is going to signify. We see that bounce and, if you don't you're likely to break through a dollar one or 93.93, and that is the safest entry point for sundial without having to chase the stock. Now i can't guarantee that opportunity is going to present itself right.

This stock is unpredictable right now the market is more volatile than it has ever probably been uh and the predictability in the charts honestly being completely 100 trumped by all news catalysts. All the wsb reddit threads that are that are floating around and any sort of uh influence outside of the market profit, taking right people moving funds over to amc and gme, but sundial does have opportunity. There is a high amount of short volume and it is looking extremely extremely bullish in nature. We are stair stepping, as i said, setting higher lows and higher highs and a nice upward moving channel one two three four five different touch points.

Almost six different touch points here which to me indicates there's a lot of strong buying pressure and as weird as this is for me to say, because i've i've never really liked sundial stock, that much no no shade to anybody. Don't only swayed you from buying the stock but um. That is how it looks right now. I do not have a position in sundial.

I've got no reason to pump this to you guys. I am in the process of transitioning over my account from fidelity, but in fidelity i've got a position in amc, bb, noke, snpw and clwd, and those are my current positions in that portfolio and i have. I have absolutely no reason to tell you otherwise with this stock, so this is exactly how i see it. This looks bullish.

It looks like it's presenting you an opportunity to actually make some quick cash if you are interested in doing so now, i'm going to show this to you guys on the one day chart and we're going to zoom out here and just look at the previous day's Price action right, so, if we look at this, this gives us further validation of this upward moving channel. So what happened? Yesterday we had a little bit of a wedge formation broke, the top of this trend line and uh from there. It was just off to the races, very clean price movement. Pullbacks were very small and the run-ups followed very quickly a lot of strong buying pressure.

The price action is a little bit ugly. It's a little bar code-ish, they move very nicely, but the candles are not very indicative on the price action here on this chart, but looking here at the pre-market and the after hours from yesterday, what are we seeing? Well, a little bit of a sell-off right, we're seeing a small amount of sell-off and if we were to channel this down and connect these points into this downward trending uh level of resistance. It would look something like this, so we've got that right. There followed by a downward ascending level of support right here with quite a few different touch points right: we've got, we've got uh one two, three, four five different touch points and you're expecting a bounce off this level, and if you don't see it, it could bleed Pretty pretty bad and what that looks like is one dollar and one cent, so you're looking for a hold over one dollar and one cent, and if you do see that that'll be pretty indicative of a good level to buy.

And if we zoom out here and take a look at this on the five-day chart, one dollar and one cent is also another level of support. So you've got basically two confirmations: two strong supporting levels with this descending wedge, this descending channel formation that we are currently in right now with uh with sndl, and if we do see that bounce it should be a pretty nice one. So, just to double down on what i said earlier, best possible entry points, are 93.3 cents followed by one dollar and one cent as it does appear. We are there right now and then, if you open up and you're not able to get into this in the pre-market, you see it at a dollar six.

You see a wide range candle bar bounce off that level of support. That does seem like a good entry point to me and an opportunity to retest one dollar and 36 cents and i'll tell you what, if you consider 35 profit every single day. That is not a bad day. My friends i'd be very happy with a swing like that, and that is what i have for the video.

So if you enjoyed it, please drop a like. It really does help support the channel and consider subscribing if you like, to see more content like this and lastly, i have an affiliate link in the description box down below for weeble, which is a brokerage platform. You're watching me use right now. It's a great platform allows you to trade at 4am, cst uh.

It gets ahead of some time-sensitive plays you get four free stocks, 100 deposit, i receive a free stock and it is a great way to support the channel if you're not interested. That's totally fine. My friends, i promise you, i'm just glad you're taking the time to watch my videos, so that's what i've got for you today. Thank you for watching my friends and i'll see y'all next time.

Peace.