Sundial Growers Stock Forms Tight Trading Range...For Now

Both bulls and bears are making a stand in Sundial Growers Inc. SNDL stock.

The bulls are willing to pay 70 cents a share. At this level, there is more demand than supply. Over the past month, this has been the bottom of the trading range. Each time shares fell to 70 cents, the stock rallied.

The bears are willing to sell at 80 cents a share. There’s more supply than demand at this level. Over the past month, each time the shares reached 80 cents, a sell-off followed.

Sundial has formed a trading range between 70 and 80 cents. Over the next week or two, there’s a good chance these levels continue to hold and the stock stays within this range.