Greenwich LifeSciences: The Next 10x Bagger?

Greenwich LifeSciences GLSI stock chart technical analysis bullish

$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. In the last few months, however, it has had repeated 100% pops followed by a fade (check out the chart above for analysis). Which makes this stock great for short-term trading. These pops have been caused by data on their breast cancer treatments, as they are starting Phase 3 clinical trials. Luckily these pops have faded, still giving good risk/reward for an entry.

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 higher. 

I expect this stock to run back up as it starts its Phase 3 trials continue and they open up other drug pipelines. However, realistically speaking this stock will end up with a big pharma likely buying them out. Will it be bought out at around $185? I am not sure. But I believe this is one of the best stocks to buy for my trading style.

Lastly, 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.

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