GrowLife Inc (PHOT)

[moneym8ker]

In my opinion, it was a bounce off an oversold indicator.

It either held the $0.30 and bounced or it was going to test the next line of support at $0.26/27.

I for one am glad it bounced and bought into it.

What will likely happen is we will open weak, test the low $0.30's but the chart will ultimately show I "higher low" with yesterday's low being $0.30 and today's session low being somewhere between our close yesterday of $0.3470 but (hopefully) well above $0.3010.

No crystal ball, just good at what I do. The previous weeks low already tested the $0.27 range and we bounced off it. Yesterday's low of$0.3010 was a markedly higher low.


I've stated before... I'm a trader. I may miss the bottom...I might miss the top... But I get the meat in the middle.

I bought yesterday. While I was suggesting the stock may test the $0.27 range (I openly, here, hoped IF we test it, that it bounces off it) and as I wrote, and read posts, sure enough, the stock bounced over 11% off the session lows.

I do have concerns about the $0.35 line. It proved to be resistance for the bounce...but with higher lows clearly behind us I'm not too concerned that $0.35 will be a problem.

Time will tell...between now and then..trade well.