GRWG
Updated
First things first:
Anything can happen... try to be objective as possible and play by your rules. Be confident.
Now:
It is slightly possible that this just goes up forever( I guess) and probably just as possible to have a dramatic drop. More realistically this stock is very strong and will continue this pattern of brief retracement and consolidation to an uptrend. It could break into a downtrend eventually if the market conditions are right. Regardless, I strongly believe a healthy reversal is likely.
-Generally oversold conditions, and nearing various resistances.
-On the daily chart, the last major drop was about 16%.
-Nearing resistance points and meeting trendlines from previous highs.
-Since the start of this overall rally, downtrends average about 20% loss.
-Uptrends average about 60% gain.
Wait for entry/exit signals if you are more aggressive and wait for confirmation of those signals if you want to be more conservative.
-Possible resistance/ reversal at $44, $47-$49
-Possible timeframe of 7-14 business days
*I'm always learning and open to different perspectives. Trade to your own discretion. *
Anything can happen... try to be objective as possible and play by your rules. Be confident.
Now:
It is slightly possible that this just goes up forever( I guess) and probably just as possible to have a dramatic drop. More realistically this stock is very strong and will continue this pattern of brief retracement and consolidation to an uptrend. It could break into a downtrend eventually if the market conditions are right. Regardless, I strongly believe a healthy reversal is likely.
-Generally oversold conditions, and nearing various resistances.
-On the daily chart, the last major drop was about 16%.
-Nearing resistance points and meeting trendlines from previous highs.
-Since the start of this overall rally, downtrends average about 20% loss.
-Uptrends average about 60% gain.
Wait for entry/exit signals if you are more aggressive and wait for confirmation of those signals if you want to be more conservative.
-Possible resistance/ reversal at $44, $47-$49
-Possible timeframe of 7-14 business days
*I'm always learning and open to different perspectives. Trade to your own discretion. *
Note
Supports at $41.5 and $40 to be broken with good sell signals for a short entry.Target $36-$37 range (possible reverse at fib) low at $33.5
Resistance at $43.5 broken and good buy signals for a long entry.
Target $47-$50 range. watch for strong reversal conditions.
Try to trade by getting the probability of any given result based on the information you have now rather than the past or projected future.
Trade active
$42 PUT 1/22/21Enter: $4.8
Stop: $4.1
Exit: $6.0 ( or trailing stop if past $6.48/35%)
strict stop! watching for reversal signals and trading volume.
Trade closed: target reached
EXIT $6.10 +$130went higher today but I reached my goal and had a successful trade. consistency is key.
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