Get Ready for Globus Medical (GMED) to Surge IF This Happens

While scanning charts after yesterday’s market sell-off, I found a key resistance level in the chart of Globus Medical (GMED)…

Globus Medical (GMED) is a medical device company that develops and provides healthcare products and solutions to hospitals, physicians, and surgical centers. While GMED posted disappointing sales results in the second quarter, the company saw an upward trend at the end of the quarter and into July. As the baby boomer generation gets older, they will be more prone to musculoskeletal degeneration. This bodes well for GMED’s spine business.

Take a look at the 1-year chart of GMED below with my added notations…

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