Galectin Therapeutics Inc. (GALT)

[123tom]

Its playing around and testing the key support zone here around 5.75 area. below this is the 5.50 stair step/5.30 etc down to 5 and even back to 4.90-4.80 area. I still have stink bid set at 4.90-4.85 area. and I dont really want to buy more at 5.30 or above 5...like you said, this is giving off a feeling vibe, I feel it too these days. wouldnt be surprised at all to see a quick plunge to 5 dollars ,and it mightbe a falling knife worth catching a little more....but only so I can sell it at 7.50 resistance and take the gains.

overhead resistance at 6.40 area is the stair step playing today. above that are the variouspoints Im sure you can see on the chart. Watching the 50 ma sliding down to 8 dollars and then maybe we will see price hit the 50 around the 7.50 resistance zone....see if that develops like that. might be a place to take some profit, in the technical trading pattern.

For myself, I need to know the fundamental news and development
I'm starting to use the MFI (money flow index) tool....do you ever use it?
its a tricky tool but looks interesting.
I do think the big resistance zone 7.50-7.75 area will become a worrisome zone in this chart pattern. The wave structure from the bottom looks like its developing an ABC correction pattern. I suspect it will hit the 7.40 area and zig zag around, maybe slide up to 7.70 and zig zag and extend even to 8 dollars, but be worrisome all the way as a cliff edge waiting to get hammered down.


http://stockcharts.com/c-sc/sc?s=GALT&p=D&yr=0&mn=5&dy=0&i=p14269591883&r=1410806934162