Galectin Therapeutics

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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

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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.


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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 and You can follow Pedone on Twitter at or @zerosum24.

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