GLMD - BUY NOW THANK YOURSELF LATER - MONTHLY All,
This is beyond obvious support on the monthly which is no joke. Remeber higher timeframes are far more serious. I expect this to EASILY hit 30-50%. PT on this is 9-17 bucks. Let alone 21M float. No debt, and quite a lot of other factors going for this. 20% tute owned as well.
I can't imagine this not taking off soon and hitting $4 at least.
GLMD trade ideas
Buy @ the bottomThis stock is approaching the 3.00 - 3.15 range which historically seems to be the bottom.
It has hit this area 13 times on a weekly candlestick since 2016 and every time we have seen an aggressive bounce.
Depending on your strategy, you could see this as a long term hold.
I will be in @ 3.10 and out @6.
SL break and close below area of support
GLMD entered bullish trendGalmed just popped out of a downward trend that has been lasting several years. Galmed is an unprofitable micro cap ($94M) in the biotech space. It has less than $1M in revenue but it is showing strong revenue growth and is financially very healthy, so its fundamentals are strong and that's something that I personally like to see, even when I trade (should things go wrong I feel I can confidently hold the stock).
In its final phase it formed a cup & handle pattern as well as a double bottom, both bullish patterns. Volume on breakout was about 20x the average. Today it took a breather, with volume still 6x higher than average.
- RSI is high on the daily chart but reasonably low on the hourly and weekly charts. The trend is positive.
- Weekly MACD is indicating a strong upward momentum
- Weekly TSI is about to enter into positive territory
I would expect easily 50% growth in the short term, but the analyst's PT is $17 so this is a good stock to hold even in the medium term.
As usual, this is not investment advice. I am not a professional trader, mine is just an opinion. Do your own research before trading.
Good luck!
GLMD Breakout Stock Alert UpdateBREAKOUT STOCK ALERT UPDATE
$GLMD - Galmed Pharmaceuticals Ltd. - Ordinary Shares
Initial Alert Price: $3.67
Price High: $5
% Gains/Losses: 36.24%
(+18.29% More Than Expected)
Potential Stop Loss: $4.75
In today's trading, GLMD simply broke out on pure momentum without providing an press releases or news that would justify the move. We initially had a $4.32 Price Target set on this stock for a 17% Swing Trade on the stock while watching for if the stock could breakthrough those $4.32 Levels of Resistance. The stock did just that and reached a high of $4.85 providing an additional 15% on the trade with a total 32% Gain on the move.
If the stock were to consolidate and conduct a Resistance to Support Reversal, then we would see the stock trading between the $4.32 - $5.15 Price Ranges moving forward to potentially retest those $5.15 Levels of Resistance. If we do retest those $5.15 Levels, then we could potentially see an additional 10% beyond what has already been obtaining in profits.. #Breakout #Stocks #Trading #Investing #Alerts #StockMarket #Daily #News #Today
GLMD Breakout Stock AlertBREAKOUT STOCK ALERT
$GLMD - Galmed Pharmaceuticals Ltd. - Ordinary Shares
Initial Alert Price: $3.67
Potential Price: $4.32
Potential Gains: 17.71
Stop Loss Limit: $
GLMD is working to retest the $4.32 Levels of Resistance and if it's able to breakthrough and we find support at those price levels, we can expect this to move forward in retesting the $5.15 Price Ranges. The company is currently conducting Phase 3 Trials for their drug Aramchol, which focuses on Non-Alcoholic Steatohepatitis and Liver Fibrosis. The company also has a 2nd Drug in Phase 3 Trials, Amilo-5MER for Chronic Inflammatory Disorders. The company will be hosting a symposium to give an update on the pipeline for the continued development, progress of clinical trials, and manufacturing/distribution moving into the future. #Breakout #Stocks #Trading #Investing #Alerts #StockMarket #Daily #News #Today