RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of GMED
Powered by GPT-4
Upgraded!
Stock Analysis
Risk Assessment
Trading Strategy

Globus Medical Inc stock price ended at $53.64 on Thursday, after gaining 1.09%.
(Updated on Mar 28, 2024)

Hold candidate since Mar 27, 2024 Gain 1.09% PDF

The Globus Medical Inc stock price gained 1.09% on the last trading day (Thursday, 28th Mar 2024), rising from $53.06 to $53.64. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.03% from a day low at $52.91 to a day high of $53.98. The price has risen in 6 of the last 10 days and is up by 3.41% over the past 2 weeks. Volume fell on the last day by -144 thousand shares and in total, 722 thousand shares were bought and sold for approximately $38.74 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Globus Medical Inc stock with a 90% probability to be traded between $50.09 and $54.92 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.

GMED Signals & Forecast

The Globus Medical Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $52.21 and $53.62. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 4.87%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Sell
Special Signal Notification

Double Top Formation

Double Top Formation A sell signal from a double top formation was found on Tuesday, February 27, 2024 and based on theory for this formation the price should fall by -7.82% to $49.44 within 26 trading days since signal was issued (Monday, April 01, 2024).

Support, Risk & Stop-loss for Globus Medical Inc stock

Globus Medical Inc finds support from accumulated volume at $51.87 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.08 between high and low, or 2.03%. For the last week, the stock has had daily average volatility of 2.18%.

Our recommended stop-loss: $51.47 (-4.04%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (GMED) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Globus Medical Inc to open at $53.51, and during the day (based on 14 day Average True Range), to move between $52.25 and $55.03, which gives a possible trading interval of +/-$1.39 (+/-2.60%) up or down from last closing price. If Globus Medical Inc takes out the full calculated possible swing range there will be an estimated 5.20% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $53.99 (0.65%) than the support at $51.87 (3.30%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Globus Medical Inc stock A Buy?

Globus Medical Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.895 Hold/Accumulate Unchanged

Predicted Opening Price for Globus Medical Inc of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$53.51 ( 0.245%) $53.64

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for GMED

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 54.58 1.76 %
R2 54.17 0.99 %
R1 53.92 0.520 %
Current price: 53.64
Support S1 53.10 -1.01 %
S2 52.84 -1.48 %
S3 52.43 -2.25 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 56.17 4.72 %
R2 55.00 2.54 %
R1 53.99 0.652 %
Current price 53.64
Support S1 51.87 -3.30%
S2 51.83 -3.37%
S3 51.65 -3.71%

FAQ

What is the symbol for Globus Medical Inc Stock and on which exchange is it traded?
The symbol for Globus Medical Inc is GMED and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Globus Medical Inc Stock?
Globus Medical Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

How to buy Globus Medical Inc Stock?
Globus Medical Inc Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Globus Medical Inc Stock.

What's the current price of Globus Medical Inc Stock?
As of the end of day on the 2024-03-28, the price of an Globus Medical Inc (GMED) share was $53.64.

What is the 52-week high and low for Globus Medical Inc Stock?
The 52-week high for Globus Medical Inc Stock is $62.88 and the 52-week low is $43.39.

What is the market capitalization of Globus Medical Inc Stock?
As of the 2024-03-28, the market capitalization of Globus Medical Inc is 7.261B.

When is the next earnings date for Globus Medical Inc?
The upcoming earnings date for Globus Medical Inc is May 02, 2024.
Click to get the best stock tips daily for free!

About Globus Medical Inc

Globus Medical Globus Medical, Inc., a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. It offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative, deformity, tumors, and trauma conditions; treatment options for motion p... GMED Profile

Top Fintech Company

StockInvest.us featured in The Global Fintech Index 2020 as the top Fintech company of the country.

Full report by FINDEXABLE

ROCKIT