First off for summary:
Grow Generation is a leading retailer of hydroponic and organic gardening products in the United States. The company was founded in 2014 and is headquartered in Denver, Colorado. Grow Generation provides a wide range of products and services for indoor and outdoor gardening, including hydroponic and organic growing equipment, nutrients, and...
Strong Break out this past month
Over sold and below 5year trendline.
This is a solid company and despite a drop in sales the past year they are expanding into the midwest.
More good news coming from marijuana legalizations should send this stock back above it's trend line at some point.
Wouldn't be surprised if it doubled before summer.
GrowGeneration's stock is still cheap, and a new wave of cannabis legalization means the company's market will soon grow even more.
We saw a few short term calls with Strikepreis 6.5 $. So there can be another strong push in the next days and a breakout above 6.5 $. The setup below is more for a short swing trade. For a long term investement GRWG...
I have longed $GRWG as Cannabis/Food play. Due to macro fundamentals and the fact oil is heading higher(I strongly believe oil prices can still double from here in the next decade or so), growing your own food can be the way to go. Also, if USA legalizes Cannabis on a federal level, this stock can benefit from it.
The company financial sheet is sound and valuation...
Surely we are close to finding the buyers of GRWG? There was a lot of volume the last time we were at these price levels on GRWG. Though the growth is decelerating, there is still plenty of Growth projected for GRWG in 2022. According to 8 analysts polled, GRWG is expected to generate 531.24M revenue in 2022 which equates to a 1.74 Price Sales Ratio for...
- Marijuana Sector is still in a downtrend - Bearish.
- At an important level of support...could bounce and climb to $27.50 before rejecting and continuing the downtrend (unless marijuana is legalized).
- Watching for bullish volume but don't hold your breathe.
- Expecting a reversal as soon as marijuana is legalized.
- Scalps / Daytrades
Grow Generation at some really interesting levels here. Currently in wave minor C of intermediate 2 of primary 5.
Its in the golden zone between the 618 and 786 fb levels
Its about to back test the downtrend line
There's a large supply zone between 40.30 and 39.50 on the volume profile
Wave C is approaching the 50% extension of wave A
The setup is...
Chart posted 7-6-2021 approx 2:15 ET. I posted an earlier chart of GRWG (see link)- showing a target of 52.75.. I am now extending that to 57.50 due to this bullish Gartley that is making its way up as we speak. If you got in on the earlier call you are good- if not.. you may wanna get in now. Expect consolidation at the 52.75 target, but I am projecting higher...
Chart posted 6-28-2021 approx 11:05am - The charts posted today showing bullish setup momentum. This one in particular is part of a strong bearish shark, but these patterns can often times fake everyone out and even gain BEFORE a possible move back down.. right now we are seeing that move. Its still early to see if it will go sky high... but this is a good entry...