SNDL has broken through the resistance level. Can I increase my position?

The deep research logic is organized as follows: 

Okay, let's tackle this question. The user is asking if they should increase their position in SNDL after it broke through a resistance level. First, I need to check the data provided in the references.

Looking at Reference 1, the resistance level for SNDL as of 2025-08-20 is $2.16. The last price is $2.24, which is above that level. So, the stock has indeed broken through the resistance. That's a bullish sign. The last change is a 6.43% increase, which shows strong momentum.

Next, Reference 2 shows the closing price on the same date as $2.2399, which is just below the last price but still above the resistance. This confirms the breakout. Now, I need to look at other technical indicators to support this.

Reference 3 from Barchart mentions a mixed signal. The overall average is 64% sell, but medium-term indicators like the 50-day moving average crossover are sell signals. However, the long-term indicators like the 100-day and 150-day moving averages are also sell. That's conflicting with the resistance breakout. Maybe the stock is overbought in the short term but has long-term bearish trends.

Reference 4 from Market Chameleon states support at $2.02 and resistance at $2.20. Wait, but the resistance in Reference 1 is $2.16. There's a discrepancy here. The user's data might have different time frames or calculations. The user's query is about the resistance level, so I should focus on the specific data provided in the references. The user's resistance level is $2.16, which was broken, so that's the key point.

Reference 5 from Investtech mentions a medium-term analysis where the stock broke through a falling trend channel ceiling. That's a bullish signal. The support is at $1.92, but the current price is much higher. The volume balance is positive, indicating buyers are active. The recommendation is to see the recommendation, but the data isn't clear on the exact period.

Reference 6 from MunaFasutra lists daily support and resistance levels as $1.79 and $1.86, but these seem outdated compared to the user's query date. The moving averages here are lower, which might not align with the recent breakout. Maybe the user's data is more up-to-date.

Reference 7 from StockInvest.US mentions a hold recommendation. The stock is closer to resistance from accumulated volume at $1.58, which is way below the current price. The risk/reward isn't attractive, suggesting a hold. But the user's data shows a recent breakout, so this might be conflicting.

Reference 8 from Investing.com has mixed signals. The technical rating is a strong buy, but the RSI is neutral at 45.913. The MACD is a buy, but the 5-day moving average suggests a sell. The 50-day and 200-day are buys. This is a bit confusing. The user's data shows a recent breakout, so maybe the short-term indicators are conflicting with the long-term.

Reference 9 from TradingView also mentions a strong buy technical rating, which aligns with the breakout. The moving averages are mostly buy signals, which supports the idea of increasing the position.

Reference 10 from Financhill shows the stock above multiple moving averages (5, 20, 50, 200-day SMAs), which is a strong bullish signal. The RSI is 76.63, which is overbought. That's a caution. The user's data shows a recent breakout, but the RSI might indicate short-term overextension.

Reference 11 from MunaFasutra has intraday targets around $1.59-$1.75, which are much lower than the current price. This might not be relevant anymore. The weekly targets are higher, but the user's focus is on the recent breakout.

Reference 12 is just a chart tool, no specific data. Reference 13 mentions increased revenue but challenges in profitability. The user is interested in technicals, so the financials are a secondary concern unless they impact the stock price.

References 14-17 discuss earnings and strategic moves, which are positive but might not directly affect the technical breakout. The user's focus is on the resistance level, so these are supporting but not the main point.

Putting it all together: The stock broke through a key resistance level ($2.16) with strong momentum (6.43% gain). However, there are mixed signals from different sources. Some indicate overbought conditions (RSI 76.63), while others show positive volume balance and bullish moving averages. The user is a short to medium-term investor interested in penny stocks with breakout potential. The breakout suggests a possible upward trend continuation, but the overbought RSI might mean a pullback is possible. The user should consider increasing the position but with caution, possibly using a trailing stop or averaging in over a few days to mitigate risk. Also, checking the support levels post-breakout (like $2.02 from Reference 4) would be important for setting stop-loss levels.

### Conclusion 🚀
**YES**, SNDL has broken through its critical resistance level of **$2.16** , signaling a potential breakout. However, **caution is advised** due to mixed technical indicators and overbought conditions. Here’s the breakdown:

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### 📊 Key Analysis

#### 1. **Resistance Breakout Confirmation**
- **Resistance Level**: $2.16 (as of 2025-08-20) .
- **Current Price**: $2.24 (6.43% gain) .
- **Implication**: The stock has surpassed the psychological barrier, which often triggers further upside momentum.

| Metric | Value | Implication |
|-----------------------|-------------|---------------------------------------|
| Last Price | $2.24 | Above resistance ($2.16) |
| Closing Price | $2.2399 | Confirms breakout |
| Daily Change | +6.43% | Strong bullish momentum |

|code|Ticker|Name|Date|Closing Price|market_code|
|---|---|---|---|---|---|
|SNDL|SNDL.O|SNDL|20250820|2.235|186|

|code|Ticker|Name|Date|Resistance Level|market_code|
|---|---|---|---|---|---|
|SNDL|SNDL.O|SNDL|20250820|2.1600|186|

---

#### 2. **Technical Indicators**
- **Bullish Signals**:
- **Moving Averages**: 50-day ($1.9355) and 200-day ($1.6462) are bullish .
- **Volume**: Positive balance indicates active buying pressure .
- **Trend Channel**: Broke through a falling trend ceiling .

- **Bearish/Neutral Signals**:
- **RSI**: 76.63 (overbought) .
- **MACD**: Neutral crossover (12/26-day) .
- **Barchart Opinion**: 64% sell signal (mixed indicators) .

| Indicator | Status | Risk/Reward |
|-----------------------|-------------|---------------------------------------|
| RSI (14-day) | Overbought | Potential pullback risk |
| MACD | Neutral | No clear trend confirmation |
| Barchart Signal | 64% Sell | Medium-term bearish |

---

#### 3. **Support Levels**
- **Immediate Support**: $2.02 (1-day standard deviation) .
- **Long-term Support**: $1.92 (medium-term) .
- **Risk Management**: Set a stop-loss near $2.02 to lock in gains if the breakout fails.

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#### 4. **Market Context**
- **Cannabis Sector**: Recent rally driven by rescheduling hopes .
- **Competition**: SNDL lags peers like Tilray (TLRY) and Canopy Growth (CGC) in market share .
- **Fundamentals**: Revenue growth (+57.8% YoY) but profitability challenges .

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### 🎯 Final Takeaway
SNDL’s breakout is a **bullish sign**, but the stock is **overbought** with mixed indicators. As a short to medium-term investor, **gradually increase your position** while monitoring:
1. **Price Action**: Stay above $2.02 support.
2. **Volume**: Ensure sustained buying pressure.
3. **RSI**: Watch for a pullback below 70.

**Risk-Reward Ratio**: 1:1 (e.g., $2.24 entry with $2.02 stop-loss).

Would love to hear your thoughts! 🤝