GRWG trade ideas
$GRWG BEAT EARNINGS!! WHATS NEXT?BREAKING DOWN $GRWG. What tomorrow could look like and the months ahead!
MY FAVORITE SETUP. 50, 100, EMA cross over 200 EMA $GRWGCheck this set up and get in if can!!! EMA cross overs are my fav!
**EARNINGS TOMORROW** GRWG!I love this stock so much and I took the trade at 11. Looking at them now they are primed to beat earnings with expansions happening nationwide following states legalization . Because they are a regular company, then are not effected by the lack of legalization because they've grown into what is given and can only benefit from legalization. They did well on earnings and the news feed is chock full of good shit. This is a BUY.
GRWG Earning TodayVery nice price action, but since the parabolic spike, most of it looks corrective.
I've taken a good deal of profits, but decided to play earnings with tiny position, just in case we get a FOMO spike.
Without any disruptive events in play, which means under normal circumstances, GRWG would look to a decent move to the downside, which would be a minor correction in a longer term very bullish chart.
Remember, if assets move 15% up and down regularly, they are trades, not investments.
Let us play!
GRWG Swing trade ideaThere looks to be a strong upward momentum. Quite a solid pattern here as well.
Cannabis Stocks- GRWGI LOVE this company LONG. Unfortunately this is the perfect place to buy and the sketchiest place to buy. With a possible Biden win, cannabis stocks like this one will soar. Two things in GRWG's favor in the mean time is the possible legalization in 5 states. Also, earnings coming up is expected to be a good one. So if we hit all three. Biden win. Earnings hit. Legaliztion. Then i could see a strong run up as this ticker as already see some good volume in the past.
$GRWG is my Top Pick in the Cannabis SpaceSince Q1 2018 through their most recent quarter GrowGeneration has seen quarterly sales grow 10X. As of the writing of this post the stock price is up about 4X over the same time period. They have grown sales by over 100% YoY on each of their last 8 quarterly earnings reports and have recorded bottom line profits in 4 of their last 6 quarters (a rare feat in the cannabis space). Going forward I see no signs of that slowing down. Some catalysts include legalization, earnings, and potential M&A. Legalization measures are on the ballot in New Jersey, Arizona, Mississippi, Montana and South Dakota. The most important of these is NJ where I believe it is likely to pass. This will continue to drive more and more legal production of cannabis. While the growers and distributors can be adversely impacted by fluctuations in prices GrowGeneration never actually touches nor sells the plant. They sell the materials and equipment required for growing cannabis and therefore benefit most from increased production. GRWG is set to report earnings on 11/16/2020 and I expect them to post another stellar quarter. I expect to see the stock price trade up to is previous high at about $22 ahead of the print. If they post another profitable quarter and maintain their impressive sales growth the stock could easily trade up to the $25-$30 range. Longer term the sky is the limit. In my opinion the biggest threat to GRWG is if a large competitor like Home Depot or Lowes tries to compete and sell their own cannabis production supplies. While this is not a threat to be taken lightly, but I believe the more likely outcome would be a partnership considering GrowGeneration has already developed relationships with some of the biggest cannabis growers. Trust is extremely important in the cannabis space making these relationships more valuable than they would be in other sectors. I have followed and owned this stock for a few years and plan to add on any meaningful pullback until or unless the fundamentals change course.
GRWG - Alternative CountVolatile as ever, still a really good asset with a lot of potential. My bullish count is still valid. If we lose the .618 here ($17), a test of $16.37 is next. If that goes, I will consider this alternative.
I would assume that we would be in a bear market if this scenario plays out, which, since yesterday, seems likely.
GRWG - Larger DegreeCount confirmed by $22.88 resistance. Targets $25 and $32 before a more significant correction.
GRWG - Breaking out or Trending?Bullish close, yesterday. At the top of a trend line.
Breaking higher would likely lead to a new ATH.
$GRWG Fibonacci Level needs to break for a long
Lots of movement in the POT stocks in recent days and day trader FAv GRWG has been no exception.
Alert is set for break above the Fibonacci Golden Pocket @ $19.46. with low volume resistance above.
Gains need to be protected as rallies are often short lived in POT stocks.
Election polls will and can have a major influence on these stocks so volatility is guaranteed.
GRWG Looking InterestingMaybe one final low to .618 / $16.37 before bouncing?
Potentially complete here. Needs to break above
MA8 Daily = $17.56.
Wave 3 target potentially 40% upside.
Breaking below .618 could mean loss of momentum.
$GRWG Gets Boost from Biden Polls and VP DebateGRWG benefits from VP debate and recent polls, as increasingly likely Biden plan is to decriminalize pot at the federal level. Shares seeing a recent range break, but remain inside of the larger pattern. Would help to see a break back above the $20 level to line up the retest of August highs.
Cup and Handle + Fib retracementTemporary resistance at 19.18 should break down and PT/take profit around $22. Would have been nice to get on this sooner but still bullish
$GRWG wave 3 PT = 20-20.98Pitchfork and elliot wave coincide at the $20 mark.....down trend will begin here
