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Galena Biopharma, Inc. Message Board

  • kozmokuz kozmokuz Mar 28, 2013 10:35 AM Flag

    3 month trend...

    From stockpickr:

    Galena Biopharma (GALE) is a biotechnology company focused on discovering, developing and commercializing innovative therapies addressing major unmet medical needs using targeted biotherapeutics. This stock is trading up 2.4% to $2.13 in recent trading.
    Today’s Range: $2.09-$2.16
    52-Week Range: $1.04-$2.45
    Volume: 1.83 million
    Three-Month Average Volume: 1.67 million
    From a technical perspective, GALE is bouncing higher here right above its 50-day moving average of $1.88 with above-average volume. This stock has been uptrending strong for the last three months, with shares moving higher from its low of $1.48 to its recent high of $2.18. During that move, shares of GALE have been making mostly higher lows and higher highs, which is bullish technical price action. That move is now quickly pushing GALE within range of triggering a near-term breakout trade. That trade will hit if GALE manages to clear some near-term overhead resistance levels at $2.07 to $2.18 with high volume.
    Traders should now look for long-biased trades in GALE as long as it’s trending above its 50-day at $1.88 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.67 million shares. If that breakout triggers soon, then GALE will set up to re-test or possibly take out its next major overhead resistance levels at $2.35 to $2.50. Any high-volume move above $2.50 will then put $3 to $3.54 into range for shares of GALE.

    Sentiment: Strong Buy

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