Grove Co. is a company that plans to be plastic free by 2025. This company has been beaten down with many holding in the $7 range. The analyst have this as a $10 stock in 1 year, time will tell. The insiders have a high ownership within this company at 53%. This tells me they really believe in their company. The company has less debt, Market Cap - $255M vs. Enterprise Value - $211M, which puts it in a safer place to weather a bad financial storm.
As far as the technicals, using the RSI it is oversold at 31 and buyers are beginning to come back into this stock with the MACD crossover. Currently, using the Strat, we are in a bullish trend with a 212 continuation trend.
If you are swing trading this up to $7-$10 long term target. The support and resistance lines are the prices going up. My stop loss is at $1.58, my first target is $1.77, then $2.37, then $3.66, then $6.59, major resistance is at $7.13.
I look for this one to chop its way back upward. Although, the company is beginning to win contracts to be in stores and gaining the traction needed.
As far as the technicals, using the RSI it is oversold at 31 and buyers are beginning to come back into this stock with the MACD crossover. Currently, using the Strat, we are in a bullish trend with a 212 continuation trend.
If you are swing trading this up to $7-$10 long term target. The support and resistance lines are the prices going up. My stop loss is at $1.58, my first target is $1.77, then $2.37, then $3.66, then $6.59, major resistance is at $7.13.
I look for this one to chop its way back upward. Although, the company is beginning to win contracts to be in stores and gaining the traction needed.