Sundial Growers Inc. stock downgraded to Hold/AccumulateStockInvest.us, 4 months ago
No changes to the price of Sundial Growers Inc. stock on the last trading day (Tuesday, 8th Jun 2021). During the day the stock fluctuated 9.91% from a day low at $1.11 to a day high of $1.22. The price has risen in 7 of the last 10 days and is up by 61.49% over the past 2 weeks.
The last rating was given by Canaccord Genuity on March 19, 2021. The price target was changed from $0.40 to $0.65.Over the last 30 days, this security got 0 buy, 0 sell, and 1 hold ratings.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $1.26 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Given the current short-term trend, the stock is expected to fall -29.95% during the next 3 months and, with a 90% probability hold a price between $0.38 and $0.89 at the end of this 3-month period.
The Sundial Growers Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $1.11 and $0.86. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, June 03, 2021, and so far it has fallen -10.08%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Sundial Growers Inc. finds support from accumulated volume at $1.13 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.11 between high and low, or 9.91%. For the last week, the stock has had a daily average volatility of 15.67%.
Sundial Growers Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy Candidate to a Hold/Accumulate candidate.Check full Sundial Growers Inc. forecast and analysis here.