Galectin Therapeutics Inc. (GALT)

[123tom]

Thanks Biotech 2010....I value your commentary on GALT. Good investing to you and everyone.

Given those words, I look with more positive hope, at the chart picture, and want to find target bottom zones that might hold as support....from where a rally can develop new wave patterns, and the cycle moves in an upward direction.
IF GALT keeps selling down, because of investors not understanding what they own, or institutions, or broad market declines, whatever the reason, it means there could become lower target zones to offer support targets.

I dont mind buying more at 5 dollar area, as I have done. I bought the 4.40-4.80 bottom zone (I didnt catch the 4.25 bottom) ....but if GALT retests these lower zones, thats a buy target.

If I had not sold some shares at 17 and 15, I would not have the cash to buy now at 5 ....thats the value of technical trading.

and thats all I want to show in the technical picture. I would worry that GALT is still being sold and dumped, if this critical 5 dollar zone Fails now.... this is a big test. here at 5 dollars.

save some dry powder to buy 4.25 again if that happens...But also watch the overhead resistance at the 6.70-7.dollar zone, at 7.50-7.70 target zone... Its great to believe and feel like its a guarantee almost, that GALT will some day BE a 100 dollar stock..... but the current reality is that ..... this formerly 19 dollar stock is now a 5 dollar stock. and your wallet can tell the difference.

I still plan to trade the technical picture IF it and studying price action,tells me to .... Traders will sell some at the key target resistance zone around 7.50....and smart traders will buy more if it falls back to 5 dollars again....like it just did today....

heres the long term chart and the daily to look at the key points

http://stockcharts.com/c-sc/sc?s=GALT&p=D&yr=0&mn=4&dy=0&i=p50469833424&r=1411775499138

http://stockcharts.com/c-sc/sc?s=GALT&p=W&yr=1&mn=4&dy=0&i=t54369357891&r=1411775857282