Galectin Therapeutics Inc. (GALT)

[123tom]

Sorry,I cant address your specific question.

but heres what the price action has done today.

Strong bounce and volume at the 10 dollar point.

Morning opened with a pop to 10.50, a plunge down again to 10.25 , and another lower plunge to test 10 dollars.
Right then, the news release came out,about the patient dosage doubling, kick started a surge in buying and price never looked back.

Whatever 'reason' is used as a timer for price moves, I'm not sure its all that simple. Seems like there was some timing planned around this morning, at this price level. like a kick start.

But whatever the reason, it looks like big volume decided to buy at todays bottom around 10.

now resistance points overhead are here at 11.15 /11.25/11.45-11.50 area/11.80-12.00 area
and support points below are now first at 10.75/ stronger at 10.40-10.50 area/10.25/and back to 10.

This strong bounce at 10 ,so far make it look like the 10.00-10.25 area was a good bottom to buy.

Lets see next week what kind of strength the resistance has ,between 11.50 and 12.50

Even now, in the time it took me to write this, we see what "Resistance" levels mean.... holding support at 10.75 earlier, climbing to 11.00/momentary resistance at 11.15, then a surge when 11 dollars holds support.... followed by a hard whipsaw down when GALT toped at 11.49.

That's the resistance at 11.50 It appears strong in this first test. This is the price action test now for GALT.at resistance.