Big movements in Sundial Growers Inc. stock price on Wednesday moving 15.71% between high and low

The Sundial Growers Inc. stock price gained 13.07% on the last trading day (Wednesday, 26th May 2021), rising from $0.76 to $0.86. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 15.71% from a day low at $0.74 to a day high of $0.86. The price has risen in 6 of the last 10 days and is up by 21.97% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 233 million more shares were traded than the day before. In total, 436 million shares were bought and sold for approximately $373.66 million.

The last rating was given by Canaccord Genuity on March 19, 2021. The price target was set to $0.40 → $0.65.Over the last 30 days, this security got 0 buy, 0 sell, and 1 hold ratings.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -44.48% during the next 3 months and, with a 90% probability hold a price between $0.32 and $0.54 at the end of this 3-month period.

Mostly positive signals in the chart today. The Sundial Growers Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.77 and $0.83. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 13, 2021, and so far it has risen 24.25%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Sundial Growers Inc. finds support from accumulated volume at $0.84 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.12 between high and low, or 15.71%. For the last week, the stock has had a daily average volatility of 7.63%.

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy Candidate candidate.