SNDL Trade on Feb 12, 2021 11:19 from VadimT7: Tradervue User Stock Trades.

The stock closed the gap and thus proved to be strong. This decreases the chances of it going too low after hitting the gap resistance.

• Daily chart very extended after the massive weed run and has strong pressure to come down.

• Throughout the day, the stock could've gone higher given that it showed strength by closing the gap, but TLRY (the weed leader) didn't have the strength to breakout (it actually faked out many times which decreased the weed sector's strength).

• A great opportunity to buy the dip was when the price touched the gap support at around 1.75 and was at 61.8 Fib with prev. support near.

• 9 consecutive red candles on the 3-min chart indicated that the stock was too extended to the downside and could properly reverse; thus, it's a great dip opportunity also given that it's at a previous support level, whole-dollar number, at 61.8 Fib and there were 3 high-volume hammer (not direct) and Doji candles indicating a change of trend.

- Right before the entry, the price rejected the resistance level set by the previous swing high which indicated lack of strength to continue higher; thus this is not the most profitable place to buy. Scale out if the price rejects the same level for a third time **AND makes a lower low AND it breaks the trend line or the ascending triangle pattern to the downside.**

• Price was still in a major downtrend from premarket highs. Always trace those as well.