Replies to post #45357 on GrowLife Inc (PHOT)

[Jermo71]

I know we all don't like being 15% down day today, but there are a lot of positives things about the way we closed.

1) We closed above the 62% fib retrace level of .197, which means the long term up trend is still in tact.

2) We are still above the 10 day, 20 day, 50 day, 100 day and 200 day moving averages.

3) We bounced off the 20 day moving average and middle bollinger band at .18.

4) There were a mess of shares accumulated this afternoon between .21 and .23 cents, creating a floor for next week's trading.

5) We ended the day 21.7% off the low of the day.

6) We are currently sitting between the 10 day moving average(.21) and the upper bollinger band (.30). When the stock was trading rationally we stayed in an upward moving channel between the 10 day MA and the upper bollinger band. I think that we will stay in this channel until we hear some news.

All in all the uptrend is still in tact, and the technicals of the chart did not break down today.