The USD 23.3 support, currently tested, should allow Globus Medical Inc to rally again.
Earnings per share of the company have been revised upward over the last months by analysts. The strong financial situation and profitability are the positive element of the company.
After a downward movement, the stock is now back on its daily support at USD 23.3. This level which correspond to the 100-week moving average should help for an upward reversal movement. This support has been tested many times and has each time initiate a technical rebound.
In consequence, we expect an upward movement on the share with the USD 25.3 as a main target. Investors should be cautious in case of the support's breakdown; the stop loss will be placed below this line (USD 22.8).
Globus Medical, Inc. is a medical device company that develops and commercializes healthcare solutions with a focus on improving the quality of life of patients with musculoskeletal disorders. The Company offers a portfolio of differentiated technologies that are used to treat a variety of musculoskeletal conditions. Musculoskeletal Solutions consist primarily of implantable devices, biologics, accessories, and surgical instruments used in a range of spinal, orthopedic and neurosurgical procedures. Its spine products address the majority of conditions affecting the spine, including degenerative conditions, deformity, tumors, and trauma. It provides solutions that facilitate both open and minimally invasive surgery (MIS) techniques. It includes traditional fusion implants, such as pedicle screws and rod systems. Its orthopedic trauma solutions are designed to treat a variety of orthopedic fracture patterns and patient anatomies in the upper and lower extremities, as well as the hip.
GLOBUS MEDICAL, INC. 
