Greenwich LifeSciences: The Next 10x Bagger?
Since then the stock has pulled back, as do most that have insanely strong up-moves. For those who love to swing trade, this stock should be on your radar. Parabolic stocks tend to pull back as hard as they go up, as they consolidate for a certain amount of time (just like Tesla and Bitcoin), then proceed to continue higher.
As shown in the chart above you can see for the past month $GLSI has been consolidating as its Bollinger Bands have been tightening (usually foreshadowing a strong move in either direction). I expect this stock to run backup as it starts its Phase 3 trials and opens up other drug pipelines.
Finally, an analyst has put up a price target of $75, which is good news. It makes buying the stock less risky. Hopefully, more analysts join in and the run-up starts with this stock.
As the market is pulling back in March 2021, it has brought down $GLSI at excellent price levels. I currently have a position, but it's not as big as I typically do, due to the risk inherent in trading pharmaceutical companies.
Interested in the other stocks I'm trading? Check out this post here.
Comments
Post a Comment