Sundial Growers stock price forecast: $1.47 resistance holds as SNDL declines 3.86%
Sundial Growers Inc. (SNDL) is trading at $1.37, matching its SMA-20 and sitting slightly below the EMA-20. The stock remains under pressure in both the medium and long term, as it trades well below the SMA-50 at $1.47 and the SMA-200 at $1.82; immediate resistance is at the Ichimoku Kijun level of $1.47.
1.32
1.38
Highlights
- SNDL trades below key medium- and long-term moving averages, signaling persistent bearish pressure and limited recovery prospects.
- Momentum and oscillator indicators are mixed, with MACD signalling strong selling while RSI and CCI reveal mild optimism.
- Price is expected to remain in a tight $1.32–$1.42 range, with downside risk elevated if $1.32 support breaks.
Bearish bias diverges as sellers dominate amid weak trend
Momentum readings show that MACD on the daily is a strong sell and ADX weakens at 22, signaling a bearish bias but without strong trend strength. RSI at 52.8 is neutral-bullish, Stoch RSI is overbought, and CCI shows mild optimism, revealing a divergence among oscillators. BBP points to ongoing buyer support, but today's drop of 3.86% from the previous close, without a gap at the open, places the price near today’s low in a tight trading range and suggests low volatility alongside steady selling pressure after the open.
Sideways trading likely as bullish probability remains low
The typical 5-day volatility band is expected to fall between $1.32 and $1.42 given the current technical and volatility setup. The probability of a move higher is very low (less than 20%), making further declines more likely. The baseline scenario is for SNDL to trade sideways within this current band. A bullish scenario would first require a breakout above $1.47 resistance, whereas a break below $1.32 could prompt accelerated downside.
Earlier, analysts noted that Sundial Growers was entrenched in a bearish technical setup with downside risks outweighing the chance of sustained recovery. The current data strengthens this negative outlook, with new momentum readings and persistent weakness reinforcing $1.32 as a pivotal support level that, if breached, could unleash further declines.
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