Galectin Therapeutics Inc. (GALT)

[tradervader]

The 20sma, or the .5 point on the bollinger bands, is at 5.65, while we have a double bottom at 5.70. So, I am assuming that the 20sma (or .5 point on the BB's) rises to 5.70 tomorrow morning where the bottom should be. That seems to be the strongest support point.

I think from there, we can head to the weekly 200sma at 6.30 or the upper bolli at 6.50 that GALT has failed to hold above a handful of times.

I also believe a break and hold of the weekly 200sma will happen next week or the week after, in which I think is where we finally break out. I say a week or 2 because the weekly MACD is looking to bottom out here, then eventually flip, which looks to be somewhere in that time frame.

If we don't hold 5.70, or if we break it and don't bounce back above it, I see the next support at 5.59, then the 25sma at 5.44

I truly believe that 5.70 holds, since in this up-trend we have been stepping up support levels 1 step at a time on every pullback, but you always have to be ready if your plan fails.

I can also see the 12 bouncing off the 26 once they touch on the daily MACD. All possibilities. I think the up-trend continues with 5.70 as the bottom.