Sundial Growers Inc. stock price fell more than -6.78% Thursday closing at $0.89StockInvest.us, 3 months ago
The Sundial Growers Inc. stock price fell by -6.78% on the last day (Thursday, 8th Jul 2021) from $0.96 to $0.89. During the day the stock fluctuated 7.39% from a day low at $0.88 to a day high of $0.95. The price has fallen in 7 of the last 10 days and is down by -10.7% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -62 million shares and in total, 100 million shares were bought and sold for approximately $89.14 million.
The last rating was given by Canaccord Genuity on March 19, 2021. The price target was changed from $0.40 to $0.65.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.79 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 13.5% during the next 3 months and, with a 90% probability hold a price between $0.90 and $1.53 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Tuesday, July 06, 2021, and so far it has risen 0.34%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sundial Growers Inc. stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.92 and $0.96. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Sundial Growers Inc. finds support from accumulated volume at $0.86 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 $0.0650 between high and low, or 7.39%. For the last week, the stock has had a daily average volatility of 6.89%.
The Sundial Growers Inc. stock holds several negative signals and despite the positive trend, we believe Sundial Growers Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.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 to a Sell candidate.Check full Sundial Growers Inc. forecast and analysis here.