Stock Chart Analysis GROW

Posted by downtowntrader | 5/03/2007 09:12:00 AM | 0 comments »

Stock Chart Analysis GROW

U.S. Global Investors, Inc. (Public, NASDAQ:GROW)

GROW is front and center on my screens today. It is still well within a cup and handle pattern and could be close to breaking out of the handle. It had a strong day after touching the possible bottom of the handle on Tuesday, and then pulled back about 61.8% of that push. It then formed a nice narrow range candle and could clear that today. Be careful trading this stock as it is very volatile, but the rewards outweigh the risks at this point. If this were to hit a new 52 week high, I have a feeling shorts would be scrambling with 32.71% of the float being held by them.

Good Trading,