Nov. 20 at 8:30 AM
$GMED is currently experiencing a strong bullish momentum, closing at
$84.45 with an RSI of 83.14, indicating overbought conditions. The 30-day moving average (MA30) at
$65.43 and the 50-day moving average (MA50) at
$62.28 suggest a robust upward trend, as the price is significantly above these averages.
Given the recent 60-day high of
$87.16, there is potential for further upside, but caution is warranted due to the high RSI. A pullback could occur before any significant breakout.
Suggested entry is at
$83.00 to account for potential retracement. Set a stop loss at
$80.00 to limit downside risk. Target 1 is
$87.00, near the 60-day high, while Target 2 is
$90.00, allowing for further upside if momentum continues.
Monitor price action closely, as the high RSI may lead to volatility.
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