BZ Chart Of The Day: Sundial Growers

The best traders don’t guess. They let the market tell them what to do. And shares of Sundial Growers Inc. 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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