Replies to post #24724 on GrowLife Inc (PHOT)

[BigBankStory]

I agree. I'm also out its looking for a double top or a W formation. I'm playing it safe and waiting till I see more confirmations on the chart. Big things happening we will see GLTA

[HeedTheChief]

It is important to remember, the stock needed a pull-back.

This is what you call a healthy pull-back, as the stock was
moving fast, and was showing indicators of being overbought.

The chart may show a top is forming, and the stock is in
pullback mode, but that's only until buying pressure comes
back in, and we go higher again.

We needed to consolidate a little and reset the RSI.

Fridays normally has more sellers than buyers anyway.

Make no mistake, PHOT is very Bullish right now.
Golden crossover confirms this.
With huge support around the $.08 range.

Your .06 - .07 low here is extremely biased, as you have made
it clear you are looking for a re-entry.

November 5th, Portland votes on Legalizing Marijuana.

And California Secretary of State is due to approve
Ballot language for voter Legislation, if he does,
California is one step closer to Legalization.

Two huge catalysts that will draw a lot of National media attention and traders to the Sector!

PHOT has a Hydroponic retail store in Portland and two in
California Revenues will shoot through the roof!

With MJN# shareholders getting scammed again, PHOT is
without question, the #1 Micro Marijuana stock on the Market.

And makes PHOT that much more attractive.

Plus, positive Third Quarter results coming up, November
14th the latest.

So the Buying pressure we need is on it's way.
Only the Market will determine when that comes in.

How long will this pullback continue, we can all agree
it won't be for long.

We could storm out the gate Monday and never look back,
we could continue pull back to mid $.07's, but $.06's is
just wishful thinking, and does not take into account
all the Fundamental and Technical data!

[porkypigg]

if it happens, i'm ready to pounce on any .06-.07 with a big buy.
PHOT is a very hot stock .pullbacks are normal, no stock goes up to the sky. I believe (hope) pps drops early Monday, then it will bounce back , going up over .10 cents. there's a lot of people watching PHOT right now. its not going to go away anytime soon.
good luck to you

[LAmerica]

chart yen & yang...

pullback is a hard call. we're not trading a stock like pepsi here. a lot of fluid factors wh/ can move these waters quickly.

it's monty hall time. i'm weighing 3 based scenario's on thurs & fri's action along w/ govt legal news coming in early nov & financials mid nov.:

door #1: it holds the .08 line, chops around between .08-.086 w/ a short term consolidation leading into the next leg up starting mid late to the week on anticpation of govt legality news. of course they may drop news early in the week, but I doubt they drop anything substantial, for it would seem they'll hold those cards until the last5-7 trading days leading into financials. news like earlier this week is at best a stabalizing effect to prevent mojo from being killed.

door #2: it completes either a 38% or 50% fib replacement starting from thurs high & makes it back to apx. the .072-.077 pps area. It holds base there & consolidates thru or near the end of the week, forming a new springboard for the next leg up off of the heavy anticpation nov month for this stock. Further cause to bring it back there, is to have the bottom of the high volume nov 22 bar retested wh/ again brings it back to .072. Non substantial news may thwart that or only take it to the .077 38% retracement area.

door #3: mm's really dump this hard & shake the trees to break this down under the 50% fib & take it down hard monday & tues. If no news comes thru wed., then some short term fear could set in. Logically where this will go chart wise is to the top of the high 40 mill sept 16 bar. That puts the pps at the .061. I would suspect that price would be met w/ a surge of covering shorts and buying. can't see how that price would hold long as a base line b/c the buying would be sustained so close to nov.

...of course there are always outliers. huge or bad news could come at anytime & then bets are all off. Right now i'm leaning to door #2. the news earlier this week was already figured in & though it does help, its not going to hold a drift line. I just dont see them dropping bigger news early this week. Yet, we are also getting very close to nov. & definetly more eyes are getting on this stock.

I am glad its drifting back. It's creating an orderly formation & not getting parabolic. Parabolic's though very profitable, dont bode well in re to sustainability that many are hoping for this company. If it goes parabolic right now for ex., then the liklihood of even seeing .75 becomes much fainter.

the sweetest scenario, is to drift back to the mid .07's, consolidate for a couple of days & then start a next step up to the .12 area on antcipation of govt legal news in early nov. If that news bodes well for this company, more eyes will come onboard. W/ the addition of some profit taking at that #, this stock may hold that .11-.12 area leading into financials.

If financials show true tangible evidence of not only better then projected revs along w/ a turn towards cash flow positive wh/ would deal w/ mounting capex, then .15-.20 isnt out of the realm of possibility. If profit taking then occurs & they can set a firm base, then this stock can mount its growing strategy, while the indust & govt devl continue to push forward. Thats when .40+ starts becoming sustainably plausible.

[spivster]

7's are coming. It was to be expected. There's no decent support yet in these higher areas.