Galectin Therapeutics Inc. (GALT)

[123tom]

Yes yes,the 200 ma I mentioned that feature in past commentaries.

so far so good, and today's price action looked like pretty good follow through. Held nice at 11.25 support.

and so right as of now, we have a 2 dollar rally from 10 to 12, and the 11 dollar zone needs to show support .
Here's what lies in waiting overhead now. something to watch carefully. At the 13 dollar zone now, in coming days,
is not just a resistance point, its also a zone where the right shoulder can develop in this resistance. If we get this pattern, a head and shoulders ,that fails to break through this 13 dollar zone (12.75-13.25 area) it could invite selling to retest the 10 dollar bottom area again.

It really needs to break through 13 with conviction now.

and after that GALT needs to stair step through 14 and retest the 50 ma at 14.75 area.

A lot of work to do in bullish price action.

Right now, 3 things look key to me,

first, 11 needs to hold strong...

AND then, 13 must be broken through with conviction.

and then later, 13 must become strong support to hold.

Waiting at 13,to offer resistance now, is the 20 ma. it sets the defining moment as a battle line .for bullish trend recovery or bearish downwave continuing.

This is looking like one of those 'crunch time' moments for GALT now.