GreenGro Technologies, Inc. GRNH
After topping out at a high of .108 on Monday for gains of 731% over the low of .013 since we’ve been following it (Oct.16th), GRNH had a consolidation, and found support at the 20DMA (.036).
Yesterday, the stock made a significant rebound, pushing back to the six-cent range, showing itself as a classic case of ‘dip-and-rip’. We’ve seen a slough of nice gains out of this stock, and yesterday’s bounce shows just why we pay such close attention to the moving averages.
Moving forward, we’d like to see the 20DMA hold as support. Should it dip below that level, we’d need to see support hold at the 50DMA. On the flip side of the coin, we have resistance at Monday’s high of .108.
MJNA, HEMP, CBIS & PHOT
These are some of the other medical marijuana stocks to which we’ve been paying very close attention since Oct.16. After making great moves, like GRNH, these all saw a bit of a consolidation, and have now begun to heat up again. For this reason we will continue to monitor them carefully going forward, waiting for the right opportunities to present themselves.
Out of all these, it would appear PHOT has the ripest-looking chart:
We can see on the chart above, that the RSI is breaching into the power zone, and the stock is approaching a major resistance point at the 200DMA. A break past that point could mark the beginning of another major run for PHOT. The volume yesterday reached an all-time high as well. The PPO is pinching in for a cross, while the Slow STO crossed over and punched through the 50DMA. With the way that these indicators are shaping up, we feel that PHOT is just about ready for another wild run.
RAYS, GRDO, HHSE, GMXS