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GrowGeneration Corp. ($GRWG): Buy or Sell?
GrowGeneration Corp. ($GRWG) cannabis stock looks strong, currently sitting on support level, is it time to buy or sell?
GrowGeneration (GRWG): Stock Chart Analysis and Price Action Prediction
After applying my technical analysis towards the marijuana stock chart, $GWRG, I suspect there could be a little more head room for this to go north in price action, but when all said and done, will sell more if it can't close over $9.60, preferably $11.62 (for strong bull support).
Not only did the "10/07" pump happen a few days later (delayed), it's recent struggles to clear over the prior 4th wave down, hitting resistance pretty hard on it's attempt to correct over resistance level(s).
Taking a closer look on the weekly timeframe, we can see the current support and resistance channel(s) that are creating barriers for price action to establish bull or bear territory. Thus, I believe we see small action northside, but will be reclaimed by the bears to add more selling pressure.
I can see anything under $5.42 maybe causing some stop loss orders, making panic selling an option, which will favor bears to try for lower price levels. $2.74 will likely be my first price target and if I see panic setting in, I'd would think that $1.35 will come into play. This being all a guessing game due to it being impossible to predict first waves, but will keep an eye on this ticker and update along the way.
Tags: $GRWG
Pot StocksWriting by Nick CaskeyPot Stocks provides stock chart technical analysis for cannabis investors in the marijuana sector of the stock market(s). Follow PotStocks420 on Twitter! Made or saved money by following these charts? Consider sending a tip or donate towards the analyst's pain management fund.
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Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations by Pot Stocks - These are theories and ideas using a chart analysis method developed by Nick Caskey.