Description
⋅ Chinese pharma play:
- Move from 1.00 (May 24, '19) to recent $2.24 top (Jan 27, '20) and back to $1.73 today marks an approximate 50% retrace over the last 9 months
- Currently in the heat of the Coronavirus battle; will likely show a bump in it's topline next quarterly report (July?)
- Currently faces resistance at the baseline of the BB bands and 50MA which are both at $1.75
- Above its 200MA
- 52 week high at $3.39
- Next stop is at $1.94 trendline, with support at $1.75 IF the price holds and is confirmed.
- More support at 20MA ($1.71) and 9EMA ($1.67)
- MACD looking ready for a crossover
- KST at bottom of its range
PT of $1.94 in the short term
Back to $3.00 by July
Stop Loss at $1.65
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GLTA