The Chart of the Day belongs to Galectin Therapeutics (GALT). I found the pharmaceutical stock by using Barchart to sort today’s 52 Week New High list first for the highest Weighted Alpha, then again for technical buy signals of 80% or more. I then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 12/29 the stock gained 75.75%.

Galectin Therapeutics Inc. is a drug development company engaged in the development new therapies for fibrotic disease and cancer. The Company uses its carbohydrate technology that targets galectin proteins, the key mediators of biologic and pathologic function. Galectin Therapeutics uses naturally occurring carbohydrate polymers with galactose residues to create complex carbohydrates with specific molecular weights. Galectin Therapeutics, formerly known as Pro-Pharmaceuticals, Inc. is headquartered in Newton, Massachusetts.

Barchart’s Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 263.70+ Weighted Alpha
  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 12 new highs and up 143.57% in the last month
  • Relative Strength Index 76.52%
  • Technical support level at 5.23
  • Recently traded at 5.87 with a 50 day moving average of 2.93

    • Fundamental factors:

  • Market Cap $196 million
  • Although Wall Street analysts have not givev a firm consensus on Revenue and Earnings they have given three strong buy recommendations on the stock
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