GMED Price Prediction Next Week
Technical Analysis: GMED's stock shows bearish momentum with RSI at 32.01, indicating oversold conditions. The MACD (-0.70) displays a negative trend with bearish divergence. Price is currently trading below both SMA-5 (84.75) and SMA-10 (87.65), suggesting short-term weakness.
News Impact:
- Recent acquisition of Nevro Corp for $250 million, which could impact short-term price movement
- Barclays maintains Buy rating with $100 price target
- Insider sentiment has turned negative with increased selling activity
Price Prediction for Next Week: Based on Fibonacci levels and technical indicators:
- Resistance: $92.36 (R1)
- Support: $84.07 (S1)
- Critical support: $81.51 (S2)
Expected price movement:
- Base case (60% probability): $84-86 range
- Bearish case (30% probability): Test S1 at $84.07
- Bullish case (10% probability): Bounce toward $88.21 (Fibonacci pivot)
Trading Recommendation: SELL Rationale:
- Negative MACD momentum
- Below key moving averages
- Insider selling pressure
- RSI showing weakness
- Recent acquisition adding uncertainty
Target entry: Current market price ($84) Initial target: $81.51 (S2) Stop loss: $86.50
GMED Similar Chart Price Prediction
The price of GMED is predicted to go up -2.69%, based on the high correlation periods with CTVA. The similarity of these two price pattern on the periods is 97.64%.
GMED
CTVA
Down: -2.69%Similarity: 97.64%
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GMED Analyst's Forecast
William Plovanic
Canaccord Genuity
Strong Buy
2025-01-10
Price Target
$92 → $101
Upside
+16%
Canaccord raised the firm's price target on Globus Medical to $101 from $92 and keeps a Buy rating on the shares. The firm updated its model following the company's preannouncement where they reported strong preliminary results, announcing 2025 revenue guidance with the midpoint calling for 6.2% growth, which Canaccord views as conservative.
Richard Newitter
Truist Securities
Hold
2024-12-18
Price Target
$85 → $90
Upside
+10.05%
Jason Wittes
Roth MKM
Strong Buy
2024-12-17
Price Target
$100 → $115
Upside
+37.86%
