Possible Descending Widening Wedge SNDL

26 May 2022

SNDL has been, along with the Canadian cannabis sector, in a long downtrend since June 2021. If you exclude the 2 sharp jumps in prices, the pivot points have been making a Descending widening wedge. This reversal pattern, in addition to the company's recent acquisitions and diversification of assets, may lead to both a sharp jump in price in the short term and an overall reversal of trend in the next year or two. Additionally, the US, Canada's bordering country, has a bill that will be approaching the Senate floor for the decriminalization of cannabis on a Federal level. The news of a vote on said bill will most likely be a catalyst to an increase in price prior to the actual vote; leading to a jump in price. Sndl is currently in a curing stage to increase it's stock price to $1 for 10 days within the next few months. The company also has a stock buyback plan yet to be implemented.