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The best traders don’t guess. They let the market tell them what to do. And shares of Sundial Growers Inc. (NASDAQ:SNDL) may be about to speak.
Some levels are more important than others in the financial markets. The 90-cent level is important for Sundial. It was a support level in June and early July, and then it became a resistance level in the latter part of July.
After a large move higher, the stock is trading above this important level. If 90 cents becomes a support level again, it could set the stage for another move higher.
But if this support breaks, there may be a rapid and large move lower. This is why Sundial traders are focused on 90 cents.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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