GLOBUS MEDICAL INC - A (GMED) Stock Technical Analysis
NYSE:GMED • US3795772082
We assign a technical rating of 5 out of 10 to GMED. GMED has been an average performer in the overall market. We also notice some doubts in the very recent evolution, but in the medium term things are still fine.
- The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
- GMED is one of the better performing stocks in the Health Care Equipment & Supplies industry, it outperforms 75% of 185 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 1360170 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When compared to the yearly performance of all other stocks, GMED outperforms 59% of them, which is more or less in line with the market.
- In the last month GMED has a been trading in the 86.01 - 95.00 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
GMED has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 89.72, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for GMED in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
53.09
When analyzing the support we can see 3 important areas.
- A support zone ranging from 87.06 to 89.72. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @85.06 from a horizontal line in the daily time frame.
- Support @53.63 from a trend line in the weekly time frame.
2 important resistance areas can be observed.
- Resistance @92.84 from a horizontal line in the weekly time frame.
- A resistance zone ranging from 94.47 to 94.64. 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 | NEUTRAL | NEUTRAL | The short term trend for GMED is neutral. |
| ChartMill Relative Strength | 59.31 | NEUTRAL | GMED is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of GMED is above a declining 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) | 54.4 | NEUTRAL | The RSI value for GMED is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.16 | POSITIVE | The MACD value suggests GMED has a positive trend. |
| Stochastics (14,3) | 67.91 | NEUTRAL | The Stochastics value for GMED is a neutral value. |
| Average True Range in percent/ATR (20) | 2.75 | MEDIUM VOLATILITY | The ATR as a percentage value for GMED suggests some volalility. |
| Average Directional Index/ADX (14) | 15.44 | NEGATIVE | The low ADX value for GMED suggests a weak or negative trend. |
90.59
-0.33 (-0.36%)
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 5 / 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 54.398. 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 0.161643, indicating a bearish trend.
What is the support and resistance level for GMED stock?
GLOBUS MEDICAL INC - A (GMED) has a support level at 89.72 and a resistance level at 92.84. Check the full technical report for our detailed analysis of GMED support and resistance levels.