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GrowGeneration Corp.

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GRWG trade ideas

GrowGeneration Pushes Higher as the S&P 500 SlidesEven when the big indexes are sliding, a handful of growth stocks with their own stories can rally. Cannabis play GrowGeneration may fit that bill. The seller of growing supplies like hydroponic equipment exploded higher last month on the heels of a strong quarterly report. (Revenue +123 percent, same-store sales +49 percent.) It’s pulled back and consolidated since as some potentially bullish patterns appear. First is the support zone around $13.24. It was the close on August 14, one day after its earnings gap up. GRWG bounced there in late-August. It slightly undercut the level on September 4, but held. That resulted in a false breakdown, which was followed by a higher low on September 11. Second is the narrow range in the last month. Bollinger Band Width squeezed to just 24 percent yesterday, the tightest since late July. Next is the 8-day exponential moving average (EMA). Most big stocks in the market have been under their 8-day EMAs since early September, but GRWG has recently jumped back above the line – despite the broader market’s selloff intensifying. Finally, the weekly chart shows an almost-perfect rounded basing pattern around $14. GRGW is a tiny company serving a fast-growing niche. That also has the potential of reducing its correlation to the broader market. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NASDAQ:GRWGLong
by TradeStation
1
The Future of FarmingBull Case: 1. Most people think of GRWG of being linked to Cannabis. However, as a small farmer I understand that with global warming more and more farmers will be shifting to more efficient indoor growing operations. 2. 8/28 price target raised to $25 from $15 at Oppenheimer and keeps an Outperform rating on the shares.The analyst commented GRWG is a" leading, yet still up-and-coming retail chain within the rapidly expanding and dynamic market for hydroponic and organic gardening supplies, and that current multiples underappreciate meaningfully longer-term prospects for the chain." 3. My look over extended, but yearly vwap has price at 13.5, which is near the 50% fib pullback and the 20ma. Bear Case: 1. Insider sold a ton above $17 Trade Plan: Buy ~15 Stop 13 Target 22 and beyond
NASDAQ:GRWGLong
by SR618
1
$GRWG GrowGeneration Reversal Trade Momentum & speculation drove the stock of GRWG to $23 this month before sufferings a 40% selloff. Stifel has now initiated the stock with A buy RATING & $22 target 7&20ma's have crossed bullishly. Potential targets $16.95 - $18.00 Upgrade details Stifel analyst W. Andrew Carter initiated coverage of GrowGeneration with a Buy rating and $22 price target. The shares are currently undervaluing the company's "differentiated growth profile" as the leading specialty retailer of hydroponics, the potential value creation from the ongoing roll-up opportunity, and the scarcity value of pure-play investable opportunities for capitalizing on the growth of the U.S. cannabis category, Carter tells investors in a research note. The analyst estimates GrowGeneration can post 55% annual revenue growth through fiscal 2022. Source theFly
NASDAQ:GRWGLong
by Bullishcharts
GRWG - Don't Chase It, Retrace It!With the first signs of corrective waves appearing in on the hourly charts in the top formation, we can assume that the top is in. Significantly overvalued after this parabolic move. From my count, it was the minor wave (5) that extended. The retrace could take a long time, but there are many gaps to close. Of course, additional pumps are possible, but scaling out at these levels is probably a good strategy. That is my play, at least, and I am looking to accumulate again in a few months. Theory says that corrections within the same impulse wave typically retrace into wave 4 of the lesser degree. No by coincidence, wave 4 of the lesser degree is the exact FIB 0.618 of the motive wave that is now finished. I need to assess over time, but perhaps the 0.5 area is a decent place to play for a bounce. Trade safe! PS. I've measured, and wave 3 is slightly longer than wave 1, even if it looks to be shorter.
NASDAQ:GRWG
by Barkworth
7