GROV QUICK TRADE CHART IDEA squeeze stocks move fast.
this is a quick chart, didn't have time to make it super amazing.
But it's worth eyeballing this trade
40% down takes us right to two major support lines, which leads to a major buy signal. This takes us to around 2.80 until the next rejection occurs. That's a big percentage movement of like 100% to 162% depending on where you buy and sell exactly.
These moves are projected to be quick moves. NEXT WEEK needs to close over 1.81 and so does this week. However, this means you could easily see a crazy movement in AH, which would mean, Monday can open lower and take us right to the major buy target.
GROV trade ideas
GROV - IF you want a "Squeeze candidate" try this one. There is some serious potential here on this stock. After such a big drop, those short positions are going to close, which will end up springing the price upwards. There is potential for a big short term run-up on this stock.
Price targets are marked.
Relevant trends are marked.
This trade won't be for those not okay with massive risk!!
The lowest price target I currently see is marked in red. Imo, this price target will ultimately spring the price higher in the end, and you can probably buy that dip with some confidence in some kind of bullish price action to come and cover losses.
Ultimately, we could very well see a situation like this play out. This line won't be very accurate overall, please follow the actual chart and indicators, however, this movement projects to be quick, but it's hard to tell. If the trends are projected accurately, it times the crash to mid-late Jan, and it times the run-up into starting next week.
If I was trading, I'd pay close attention to that 3.83 mark, with potential to keep going up to like 5.8 or so..
GROV | I Love This Setup | LONGGrove Collaborative Holdings, Inc. operates as a plastic neutral consumer products retailer in the United States. It provides cleaning essentials, such as kitchen and bathroom cleaning products, household cleaners, hand and dish soaps, paper products, and laundry care products; home and pantry products, including home fragrances, bedding and bath products, cookware and dinnerware, and pest control products, as well as trash, recycling, and compost bags; and clean beauty, haircare, skincare, oral care, period care, and kids and personal care products. The company offers health and wellness products, such as air purifiers, condoms, sun care and tanning products, vitamins and supplements, and treatments and preventions products; pet care products; indoor gardening products, garden tools and accessories, grow kits, plant seeds, gardening soils, fertilizers and lawn care products, and insecticides. It offers its products through retail channels, third parties, and direct-to-consumer platform, and mobile applications. The company is based in San Francisco, California.
Grove Company LongGrove Co. is a company that plans to be plastic free by 2025. This company has been beaten down with many holding in the $7 range. The analyst have this as a $10 stock in 1 year, time will tell. The insiders have a high ownership within this company at 53%. This tells me they really believe in their company. The company has less debt, Market Cap - $255M vs. Enterprise Value - $211M, which puts it in a safer place to weather a bad financial storm.
As far as the technicals, using the RSI it is oversold at 31 and buyers are beginning to come back into this stock with the MACD crossover. Currently, using the Strat, we are in a bullish trend with a 212 continuation trend.
If you are swing trading this up to $7-$10 long term target. The support and resistance lines are the prices going up. My stop loss is at $1.58, my first target is $1.77, then $2.37, then $3.66, then $6.59, major resistance is at $7.13.
I look for this one to chop its way back upward. Although, the company is beginning to win contracts to be in stores and gaining the traction needed.