Greenwich LifeSciences: The Next 10x Bagger?

UPDATE 3/8/2021: Sold on the crazy up move, on today's date, where stock rallied well over 100%. Sold at 45.26. Will look for another entry later on.

UPDATE 3/9/2021 purchased again after a severe pullback.

Update 4/7/2021 price blasted through $55. At this point, I am out and it is removed from my watch list. I expect this much higher but I don't like being at the mercy of clinical trial data, not good long term. It is not where my edge is anyways. To sum up the call was spot on, and quite a profitable trade. 

$GLSI (Greenwich LifeSciences) gained over 3000% percent after it showed incredible Phase 2 data on their treatment for breast cancer. The stock ended up going parabolic, gapping up from $5 all the to $160. It was an incredible move to witness, fitting for the Stock Market of 2020.

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 but lately as the market is pulling back in March 2021, it has brought down $GLSI to 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. I expect this stock to run back up 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.

Interested in the other stocks I'm trading? Check out this post here.


Popular posts from this blog

How The Inevitable Lucid Motors Bounce Will Play Out

The Most Compelling Case That Lucid's Stock Price Will Be $60+

Is Lucid Motors Finally Ready To Have A Bullish Reversal?