GMED breaking out for another bullish move!
Globus Medical, Inc. (GMED), a leader in musculoskeletal solutions, is currently exhibiting strong bullish signals.
The stock has maintained a steady uptrend, forming higher highs and lows on weekly charts.
Trading above its 50-day and 200-day EMAs, GMED recently witnessed a golden cross, further solidifying its bullish momentum.
Key support levels is identified at $80. Volume trends support the uptrend, with higher activity during rallies and lower volumes on pullbacks, indicating weak selling pressure.
Momentum indicators like the RSI at 62 shows hidden divergence.
A recent bullish engulfing candle on the daily chart and a breakout from flag & pole confirm upward momentum. Traders can look for this breakout for continued gains.
Overall, GMED shows promising potential for further upside in the medium term.
The stock can easily go till 108-110 with a stop loss of 80 which is risk reward of 1:3X.
The stock has maintained a steady uptrend, forming higher highs and lows on weekly charts.
Trading above its 50-day and 200-day EMAs, GMED recently witnessed a golden cross, further solidifying its bullish momentum.
Key support levels is identified at $80. Volume trends support the uptrend, with higher activity during rallies and lower volumes on pullbacks, indicating weak selling pressure.
Momentum indicators like the RSI at 62 shows hidden divergence.
A recent bullish engulfing candle on the daily chart and a breakout from flag & pole confirm upward momentum. Traders can look for this breakout for continued gains.
Overall, GMED shows promising potential for further upside in the medium term.
The stock can easily go till 108-110 with a stop loss of 80 which is risk reward of 1:3X.
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