GMAB

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TheTroglodyte
Dec 12, 2022 01:42 PM 0 Answers
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Thinking this looks like a good potential buy at $47.60 if we get a decent CPI and vol comes in tomorrow. Volume up 114% on the day so far. 65 week consolidation moving into 52 week high at 47.50. Big 136% earnings surprise last ER.

Any thoughts on this one?

Thank you

Yes! I like this stock quite a bit. It was on our watch list on November 29. However, it advanced quickly and became extended. This is what I wrote about that stock on November 29.

GMAB This medical biotech stock based in Denmark has consolidated for 64 weeks. It has formed a cup shaped pattern and may need some time to form a handle. It has been up for nine consecutive weeks and traded from $31 to $44. However, it is still only 1.7% above its 10ema.


This company has reported outstanding fundamental the past few quarters. I agree with your assessment that if we get a friendly CPI number it will do well. If the markets cooperate I can see this making a new high soon.

The stock pulled back to its 10ema on Friday, and is finding support today.  I believe we must look at the weekly chart to getter a better picture of its consolidation. It was up 10 consecutive weeks before pulling back 3% last week. I hope this answers your question!

Regards,

Marty

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