Technicians concern themselves with price action. We've seen some heavy volume selling the past couple weeks and now GTHX is at or near solid short-term price support. Volume had accelerated in late January on its breakout above the 21.75-22.00 level. We saw a low of 20.94 on Friday, with a close back above 22. That may have marked a bottom. Regardless of which way GTHX trades this week, we certainly should expect volatility.
But after falling 40% these past couple weeks, I believe there's an opportunity for GTHX shares to rebound this week to the 25-26 area. A close above the declining 20 day EMA would be the first step to returning to its mid-February high.
GTHX is highly volatile and should only be considered by those with a high tolerance of risk.
