BULLISH: Sundial Growers $SNDL CUP AND HANDLE formation

10 Jun 2021

Sundial Growers, which is one of the volume leaders in the market each day and one of the most owned stocks by retail investors on trading apps like Robinhood is forming the handle of a BULLISH Cup and Handle formation.
In addition to being on an uptrend and consolidating at the $1+ level, the stock is also seen as undervalued given that it only trades at 2x tangible book value compared to 12x tangible book value at other cannabis stocks like CGC and ACB. The interest in call options for the stock are trending quite bullish and they imply that traders are expecting a run up similar to the one seen by the stock in February, 2021.SNDL
Here are some bullet points on the stock which has seen a sudden influx of buy-ins from hedge funds and institutional investors this quarter.