Breakout from pennant that has formed over the last two months. Ichimoku cross below cloud and MACD cross help confirm breakout. Resistance 0.33, price target 0.5, stop loss 0.275. Company has been gaining traction with more signed contracts, most recent sale today to a Canadian cannabis cultivator.
Break above 0.33 is confirmation of reversal. Price target 0.60 and stop loss 0.33. MACD and stochastic cross also confirmatory. Strongly above daily and weekly ichimoku cloud.
Increasing volume and price action past few weeks. Ascending triangle breakout confirmed today with rise above weekly ichimoku cloud. Low float micro cap stock. Disruptive agriculture tech increasing plant growth, new signed contracts and sales behind the run up. Previously ran to 0.70 in April 2019 with a lot less company traction and progress.
Price target...
Broke out of descending wedge today, daily stochastic and RSI crossed out of oversold. Nice rebound from support in low 0.20s. Weekly candle looks like trend reversal, very few shares for sale and bids stacking up. Next few weeks should be good!
Hopefully see 0.40 again soon. Health Canada clarification October 17th for use on cannabis and new contracts being...
Downtrend over last few weeks may be over as todays bullish engulfing shows signs of reversal. Watch for break of 0.35 to confirm bull break from falling wedge. Close above 0.35 would also be a hammer on the weekly chart. Good buy right now with strong support at 0.30, price target at recent tops of 0.51, potentially higher with any good news releases.
Upcoming...
So today we saw confirmation of the breakout from previous consolidation. Daily MACD cross, with stochastics confirming breakout as well. Resistance at 0.485 and 0.50 psychological, close above 0.50 is blue sky with good follow through and would most likely lead to a run to 0.60 based off price target from previous tightening equilibrium pattern.
Also watch for...
Update to my previous analysis on GROW. I've been following GROW for over a year now, and sp had been stuck in the 0.10-0.30 range. With a close above 0.40 the breakout from previous trading range is evident. Highest share price since their CO2 startup took over, so we are looking at a blue sky breakout. Sustained bullish volume, with good support being built on...
Ascending triangle formed over January and February, bear trap with bull break on the 25th. Short term price target 0.35-0.40. Close above 0.30 signals new uptrend, as support is building above trendline formed since January 2018, lots of catalysts up coming make this a good entry point on a very bullish chart.
Fundamental analysis leads to price target of 0.83...
Short term we are due for at least a small bounce since we finally have some signs of buying volume increasing. Note the bull volume spikes end of this week as well as back in June before the last uptrend started.
Daily MACD is just about to cross which when combined with stochastics rising out of oversoold indicate a likely uptrend beginning.
$0.15 was a major...
