Greenwich LifeSciences: The Next 10x Bagger?

$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 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.


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