Sunniva Inc C.SNN

chart update

[Benedictus]

appreciate the recent back and forth discussion between sunrize and bluechip - nice to see a SH board that can still offer some balanced insights!

just thought i'd chime in w.r.t the technical picture (fwiw). the chart has firmed up really nicely and snn really is holding its own lately and the daily chart appears to have a reverse H&S pattern setup here drawn from about October to now. If buying demand breaks that 5.50 to 5.75 congestion zone, it would suggest a sharp run toward the 7.50 technical supply wall. A break below 4.15 or so would invalidate this pattern setup. All imo.

[Fundy13]

Got past the $5.50 mark.  Really good volume since Feb 14 and things keep drifting upwards. Looks like this under the radar company is starting to get noticed, still undervalued vs peers.

[sunrize]

Here is what I read - note: all prices in USD: 1. It failed to break the resistance which is at 4.25, though it broke that briefly to go up to 4.30 on small volume before retreating immediately. The last 90 minutes of trading was a lot of selling pressure. 2. The next hurdle is the 200 DMA which is at 4.42. If it breaks that, then the next resistance is at 5.06 3. But here's the thing: The

[StuinSea]

A lot of that in the last hour was me putting in Bids under tha Ask. I picked up an additional 5k shares during that time period. My last order filled was 1k@$4.14

[sunrize]

Smart way to do it  :-)

[Benedictus]

yes, RSI is up there and may indeed suggest a pullback is coming but volume appears to be portending a further runup. Bigger question is do the previously burned sellers dump their stock and swamp buying demand at this resistance zone. Also of note is this is the first P&F buy signal in quite a long time on snn.  FA wise we are aware its still early days yet in seeing all these pieces

[sunrize]

Good observations, Benedictus. With SNN on the OTC, most if not all is retail shareholders. We possibly have some seasoned shorts running it up for you know what: quick gains, knowing no news is imminent. The way the sp stayed dormant without accumulation for a week and then out of left field, it ran up with no news nor catalyst suggests it's being run up only to be smacked down for short

[Benedictus]

agreed sunrize, still lots of games to be played by the big boys without substantiated results. wonder if we'll remain range bound between about 4.90 to 5.60 until we get the Q4 results, which I'd imagine should be coming in the next week or so...? then we should get an answer to the next move. note the uptick in shorts recently:  https://shortdata.ca/stock/SNN.CN/ according to

[StuinSea]

Maybe not a lot of institutional ownership yet (it will happen in time), but alot of insider ownership. https://www.marketscreener.com/SUNNIVA-INC-40135721/company/  

[sunrize]

Why do you think institutions will buy SNNVF which is on the OTC? AFAIK, institutions do NOT buy stocks that trade on the OTC/Pinks.

[StuinSea]

I wouldn't expect much institutional funds till they get listed unless it was some micro cap mutual fund.

[weedstocks55]

This post has been removed in accordance with Community Policy