GLOBUS MEDICAL INC - A (GMED) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:GMED - US3795772082 - Common Stock
We assign a technical rating of 9 out of 10 to GMED. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, GMED is showing a nice and steady performance.
- Both the short term and long term trends are positive. This is a very positive sign.
- GMED is one of the better performing stocks in the Health Care Equipment & Supplies industry, it outperforms 88% of 186 stocks in the same industry.
- GMED is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so GMED is lagging the market slightly.
- GMED has an average volume of 1667670 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the yearly performance of all stocks, we notice that GMED is one of the better performing stocks in the market, outperforming 86% of all stocks. However, this relatively good performance is mostly due to a recent big move.
- In the last month GMED has a been trading in the 85.65 - 101.40 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Besides having an excellent technical rating, GMED also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced.
More info and screens
52.96
When analyzing the support we can see 4 important areas.
- A support zone ranging from 93.25 to 93.81. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 88.61 to 88.72. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 85.06 to 86.70. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @53.49 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 94.65 to 94.65. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for GMED is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for GMED is up. |
| ChartMill Relative Strength | 86.22 | POSITIVE | GMED has a high relative strength, it outperformed 86.22% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of GMED is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of GMED is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of GMED is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 62.39 | NEUTRAL | The RSI value for GMED is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests GMED has a positive trend. |
| Stochastics (14,3) | 52.48 | NEUTRAL | The Stochastics value for GMED is a neutral value. |
| Average True Range in percent/ATR (20) | 2.89 | MEDIUM VOLATILITY | The ATR as a percentage value for GMED suggests some volalility. |
| Average Directional Index/ADX (14) | 26.54 | POSITIVE | The high ADX value value for GMED suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 94.66 | 93.24 | 1.42 (1.50%) | 25.00% |
| An entry @94.66. This is a Buy Stop order right above the resistance zone. | An exit @93.24. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.42 points, which is 1.50%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.38%. |
- The distance between exit and entry is rather small compared to the average daily movement of GMED. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
94.64
+0.49 (+0.52%)
GLOBUS MEDICAL INC - A / GMED FAQ
What is the ChartMill technical rating of GLOBUS MEDICAL INC - A (GMED) stock?
ChartMill assigns a technical rating of 9 / 10 to GMED.
Can you provide the trend direction for GLOBUS MEDICAL INC - A?
The current trend direction for GLOBUS MEDICAL INC - A (GMED) is Bullish.
Can you provide the RSI signal for GLOBUS MEDICAL INC - A?
GLOBUS MEDICAL INC - A (GMED) has an RSI value of 62.3879. This indicates that the stock is currently neutral.
What is the MACD signal for GLOBUS MEDICAL INC - A (GMED) stock?
The MACD indicator for GLOBUS MEDICAL INC - A (GMED) has a value of 0.0187162, indicating a bearish trend.
What is the support and resistance level for GMED stock?
GLOBUS MEDICAL INC - A (GMED) has a support level at 93.81 and a resistance level at 94.65. Check the full technical report for our detailed analysis of GMED support and resistance levels.