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As a long term investor, I am not too well versed in technical analysis, but due to the trepidation that many (including myself) have about the short term price movement of GROW I thought I might take a shot at it.

Here is the 6 month daily chart:

At around Nov 20th it hit $54 as its first resistance after the big run-up. It went back down and then quickly broke above that resistance and went up to $62 which became its new resistance point, and then went back down to the $54 range which became its support. It then broke above the $62 resistance up to around $67 and rested back on the $62 support. Now it has broken above the $67 resistance up to around $72 and yesterday came back down to $67.

If things continue as they have, $67 should be the new support point and the stock should bounce off of it. I believe however that if it does go below the $67 support, that it will not go below the $62 support (very soon anyways) since the volume is still high.

As I said, I'm not a TA expert, so feel free to shoot holes in my analysis.

- Matt
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