Galectin Therapeutics

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Galectin Therapeutics ( GALT) offers drug research and development to create new therapies for fibrotic disease and cancer. This stock closed up 3.2% to $5.16 in Tuesday's trading session.

Tuesday's Range: $4.93-$5.17
52-Week Range: $1.60-$5.22
Tuesday's Volume: 81,000
Three-Month Average Volume: 52,581

>>5 Bargain Bin Stocks to Buy in 2013

From a technical perspective, GALT trended up here and broke out above some near-term overhead resistance at $5 with above-average volume. This move is quickly pushing shares of GALT within range of triggering another breakout trade. That trade will hit if GALT manages to take out its 52-week high at $5.22 with high volume.

Traders should now look for long-biased trades in GALT as long as it's trending above some near-term support at $4.75 and then once it sustains a move or close above $5.22 with volume that hits near or above 52,581 shares. If that breakout triggers soon, then GALT will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are its next major overhead resistance levels at $6 to $6.78.

To see more stocks that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr.

-- Written by Roberto Pedone in Delafield, Wis.

RELATED LINKS:



Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.

If you liked this article you might like

Galectin Therapeutics (GALT) Stock Drops on Drug Failure, Downgraded

Galectin Therapeutics (GALT) Stock Declines on Drug Failure, Rating Cut

5 Stocks Under $10 That Could Make You a Lot of Money

These Biotech Names Are on My Radar

Top Swing Trade Ideas for Monday: Cerus, Endocyte, More