GrowGeneration Corp Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
A very strong day for GrowGeneration Corp stock price on Friday
(Updated on May 03, 2024)
The GrowGeneration Corp stock price gained 5.91% on the last trading day (Friday, 3rd May 2024), rising from $2.54 to $2.69. During the last trading day the stock fluctuated 7.12% from a day low at $2.60 to a day high of $2.79. The price has risen in 7 of the last 10 days and is up by 27.49% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 359 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $3.70 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.52% during the next 3 months and, with a 90% probability hold a price between $2.43 and $3.95 at the end of this 3-month period.
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GRWG Signals & Forecast
The GrowGeneration Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $2.48 and $2.46. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -19.22%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for GrowGeneration Corp stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.54 and $2.45. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, GrowGeneration Corp finds support just below today's level at $2.54. If this is broken, then the next support from accumulated volume will be at $2.45 and $2.23.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.185 between high and low, or 7.12%. For the last week, the stock has had daily average volatility of 15.82%.
Our recommended stop-loss: $2.57 (-4.59%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (GRWG) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect GrowGeneration Corp to open at $2.69, and during the day (based on 14 day Average True Range), to move between $2.42 and $2.96, which gives a possible trading interval of +/-$0.267 (+/-9.94%) up or down from last closing price. If GrowGeneration Corp takes out the full calculated possible swing range there will be an estimated 19.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.80 (4.09%) than the support at $2.54 (5.58%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
GrowGeneration Corp will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.100. We will update the financials statements for GrowGeneration Corp, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 11.57% in the first trading day after earnings release.
Is GrowGeneration Corp stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for GrowGeneration Corp stock to perform well in the short-term.
Current score: 2.944 Buy Candidate Unchanged
Predicted Opening Price for GrowGeneration Corp of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $2.69 ( 0.0620%) | $2.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRWG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.88 | 6.94 % | |
| R2 | 2.81 | 4.31 % | ||
| R1 | 2.76 | 2.69 % | ||
| Current price: | 2.69 | |||
| Support | S1 | 2.62 | -2.57 % | |
| S2 | 2.58 | -4.19 % | ||
| S3 | 2.51 | -6.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.99 | 11.15 % | |
| R2 | 2.86 | 6.32 % | ||
| R1 | 2.80 | 4.09 % | ||
| Current price | 2.69 | |||
| Support | S1 | 2.54 | -5.58% | |
| S2 | 2.45 | -8.92% | ||
| S3 | 2.23 | -17.10% |
FAQ
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