You guys really never read my commentary on GROW did you? I suppose my frequent flippancy means my serious notes don't get taken seriously. This stock is a bellweather stock for the entire market. If the market goes up, GROW goes up. If the market is going down, GROW goes down. I don't care what the chart does, I don't look at it. When I see GROW going down, I am putting on the puts and selling at every peak. Will it go to $54? I don't know. I know that as long as it's still going up, we have a bull market, when GROW starts falling, the market will follow very soon. Why? I spent about 4 pages explaining that in one of the earlier GROW threads, if you didn't read it then, you won't be interested in reading it now.
The correction from 36.114 is complying with Fibonacci retracement principles. If Mr. Fibonacci is correct then the next step up will be ((36.114-11.22)X1.618)+17.394= 57.67 I subtract 3 from the above and round it. I say 54. Straight shot to 54 bucks and the pivot point will be in May.
GROW may seem like its in a mania, but the rise in price is perfectly in sequence with the primary trend channel and Fibonacci principles. Its a very healthy chart and I see it rising right to the 50s by May.
I've been in and out of this stock for months, this is totally normal for GROW. Don't know how many of you remember the split thread a few weeks back... but someone was asking me WHY I thought splits were better than 2:1 in real life. You seeing it? LOL! BIG is my other current favorite. Not as high flying as GROW, but does the same thing on a lesser scale. If you actually charted and bought the stocks I listed 2 weeks ago (including my doggie AMD), you'd be up by about 50% right now. . Nyuk.
The move was too fast today and went too far over the top Bollinger Band. The top band needs more time to rise before it can move that quick. Unfortunately, it just created a hanging man on the chart and I did notice a small gap underneath. I say get back in between 29-30 area when the small gap is filled. Uptrend is still good. Use stops with this stock as the float is still small. When it pulls back, it will be by 5% or more before it floats up.