Bullish close, yesterday. At the top of a trend line. Breaking higher would likely lead to a new ATH.
Sharp correction here? More complexity coming? Lots of selling presure yesterday.
Maybe one final low to .618 / $16.37 before bouncing? Potentially complete here. Needs to break above MA8 Daily = $17.56. Wave 3 target potentially 40% upside. Breaking below .618 could mean loss of momentum.
Not entirely sure, but certainly has momentum... Cloud bounce higher?
GRWG benefits from VP debate and recent polls, as increasingly likely Biden plan is to decriminalize pot at the federal level. Shares seeing a recent range break, but remain inside of the larger pattern. Would help to see a break back above the $20 level to line up the retest of August highs.
Needs to hold support now. I didn't like the rising triangle before, but the setup currently looks excellent!
Hoping to see some consolidation as we go forward. Earnings should be a catalyst
$GRWG is showing a fantastic flag that is staying very bull weighted. It's likely that buyers will want to continue this rally up from here. I would love to see a fake-break low to dip in to entry zones for buyers to push back up to highs.
With the first signs of corrective waves appearing in on the hourly charts in the top formation, we can assume that the top is in. Significantly overvalued after this parabolic move. From my count, it was the minor wave (5) that extended. The retrace could take a long time, but there are many gaps to close. Of course, additional pumps are possible, but scaling...
GRWG went into orbit off last week's earnings report, showing the pick-and-shovel power of the cannabis patch right now. The space is booming for those providing turnkey resources. Robinhood accounts have piled in. But, with RSI at 93, we aren't saying Short It, but we are saying Bank It if you Got it.
GRWG - I'd love to see a retest of that breakout DISCLAIMER: Futures, stocks and options trading involves substantial risk of loss and is not suitable for every investor. The valuation of futures, stocks and options may fluctuate, and, as a result, clients may lose more than their original investment. All trading strategies are used at your own risk. ...
Recent uplising news coupled with solid earnings and upgrades should take this back up to the high end of the range... $4.40 in sight... next target $5.00... look for friction @ 50MA 4.11 @ 100MA 4.45... Stop@ $3.60... sell 1/2 @4.80 then watch for direction... All IMO... $GRWG