GMED Technical Analysis - GLOBUS MEDICAL INC - A

Technical Rating and Analysis

We assign a technical rating of 0 out of 10 to GMED. GMED's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.

When comparing the yearly performance of all stocks, GMED is a bad performer in the overall market: 83% of all stocks are doing better.

GMED is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

In the last month GMED has a been trading in the 58.22 - 62.70 range, which is quite wide. It is currently trading near the lows of this range.

GMED has an average volume of 1419420 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

GMED is part of the Health Care Equipment & Supplies industry. There are 191 other stocks in this industry, GMED did better than 51% of them.

Considerably lower volume is observed in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

GLOBUS MEDICAL INC - A / GMED Weekly stock chart

GLOBUS MEDICAL INC - A / GMED Daily stock chart

Setup Rating and Analysis

GMED has a bad technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

51.31

63.43

We found 1 important support area.

A support zone ranging from 51.83 to 53.21. This zone is formed by a combination of multiple trend lines in multiple time frames.

We can see 2 important resistance areas.

A resistance zone ranging from 59.48 to 60.40. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 61.60 to 62.80. This zone is formed by a combination of multiple trend lines in multiple time frames.

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Technical Indicator Signal Analysis

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	DOWN	NEGATIVE	The long term trend for GMED is down.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for GMED is neutral.
ChartMill Relative Strength	17.77	NEGATIVE	GMED has a low relative strength, it was outperformed by 82.23% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of GMED is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	MIXED	The current price of GMED is above a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of GMED is below a declining SMA(200).
Relative Strength Index/RSI (14)	47.46	NEUTRAL	The RSI value for GMED is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.38	NEGATIVE	The MACD value suggests GMED has a negative trend.
Stochastics (14,3)	16.21	OVERSOLD	The low Stochastics value suggests GMED may be oversold.
Average True Range in percent/ATR (20)	2.14	MEDIUM VOLATILITY	The ATR as a percentage value for GMED suggests some volalility.
Average Directional Index/ADX (14)	17.91	NEGATIVE	The low ADX value for GMED suggests a weak or negative trend.