GRWG - Cultivating Cultivating! *Gold Star*Although widely considered a Cannabis play, IMO the hobby indoor garden space has big potential.
From a source of food to a source of Zen...
Plants, regardless of their level of cannabinoids, can be very beneficial.
Almost akin to pets.
Fostering health and physical well being.
Even providing for psychological needs, like being a provider, accomplishment, even perhaps companionship.
Talking to plants is good for people. Its good for the plants too!
If they talk back however... Dang! That's some good weed! :D
Between the above, and the legions of cannabis supporters,
plus the company's seemingly strong financials and validated corporate structure
I believe GRWG could remain strong regardless of the USA legislative red tape...
Obviously cannabis legalization legislation would be the best thing for the stock,
One would think that at this point the outcome is assured, but, time will tell...
The Star pattern is largely artistic, but the lines did come together through classic TA.
I will add some comments with other time frames that I feel paint the bigger picture better.
GRWG trade ideas
$GRWG Target 69.09 for 23.57% Or next add level is at 28.27 $GRWG Target 69.09 for 23.57%
Or next add level is at 28.27
I didn't add today... just charting and targeting...
On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average.
I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
GRWG Round DownGRWG is forming a rounding down formation beneath its moving averages. Waited for it to fill the range a bit before entering into this for the downside to 37.5. If it breaks the rounding formation and continues upward toward moving averages then this trade would be exited due to setup being void. Now that some of the range for the day has been filled i think downside can continue tomorrow.
Growgeneration earnings resultsGrowgeneration (GRWG) reported 4th Quarter December 2020 earnings of $0.03 per share on revenue of $61.9 million. The consensus earnings estimate was $0.06 per share on revenue of $60.9 million. Revenue grew 143.9% on a year-over-year basis. The company said it expects first quarter revenue of $86 million to $88 million. The current consensus revenue estimate is $77.88 million for the quarter ending March 31, 2021. The company also said it now expects 2021 revenue of $415 million to $430 million. The company's previous guidance was revenue of $335 million to $350 million and the current consensus revenue estimate is $367 million for the year ending December 31, 2021. New York State lawmakers have reached a deal to legalize recreational marijuana, lawmakers were finalizing bill language to be passed next week. "The Cannabis Law" legislation would create a new Office of Cannabis Management (OCM) controlled by a Cannabis Control Board, according to an internal legislative memo. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. This is for educational and entertainment purposes only. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
www.tradingview.com
GRWG on watchI like GRWG above the box or on a pull back to the bottom of the box. It had a fairly wide 7 pt range last week but a strong close on Friday. A break of 56 could yield a move to 58/62/66. Stops would depend on entry. A break below the box would be negative and void the trade idea.
Additional Info:
I am an intraday scalper and short term swing trader of stocks & Futures using options and equity.
I focus on high volume momentum stocks in strong uptrends.
My time frame is between 5minutes to 5 days on most trades.
I scale into positions and scale out of positions as my targets are hit.
I always trail my stops after T1 is hit to reduce risk and lock in gains.
If my post is on a Weekly/Daily/240M chart the idea is a swing trade.
If my post is on a 60M chart or lower the idea is a day trade.
Day trades can turn into swing trades if the stock is strong.
All trades should be supported by market direction.
Treat my posts as trade ideas and not signals.
Traders must trade using their own back tested trade plan and rules.
Traders must plan risk first and profits second.
Additional Additional Info:
If you use options to trade high IV stocks it is crucial to wait for some consolidation or a pull back.
If you buy an option when price is stretched you will find that even when the instrument trades in your
direction you will lose money because you will have paid too much premium.
Simple rule = BUY options when candles are SMALL and SELL options when candles are BIG.
$GRWG Target 69.09 for 23.57% Or next add level at 43.03$GRWG Target 69.09 for 23.57%
Or next add level at 43.03
I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
$GRWG : Potential movement - ABCDE -$GRWG is my favorite Marijuana plays. My thesis for the upcoming weeks and I hope is holds. Support and trendlines look great. My concern is the stock might get sucked into a general market selloff in the near future.....And..... I am stoney bologna right now lol.
you need to sell the gear to grow the greenYou need to sell the gear to grow the green.
As operations expand they will need new equipment's and replacement equipment to grow pot.
This company will grow as well to meet that need.
This stock in in teh habit of r dropping 20-40% and recovering so I hope I get some at 55,54,53 or so before moving higher.