Long Position on GMED @ $82.75 on 7/26/2021 (Momentum)

Globus Medical, Inc. (GMED) develops and commercializes healthcare solutions for patients with musculoskeletal disorders. 

Its offers spine products, such as consists of traditional fusion implants, such as pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative, deformity, tumors, and trauma conditions; treatment options for motion preservation technologies, such as dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional pain management solutions to treat vertebral compression fractures; and regenerative biologic products, comprising of allografts and synthetic alternatives.

The company also offers products for the treatment of orthopedic trauma, including fracture plates, compression screws, intramedullary nails, and external fixation systems; and hip and knee joint solutions, including modular hip stems and acetabular cups, as well as posterior stabilizing and cruciate retaining knee arthroplasty implants.

In addition, it distributes human cell, tissue, and cellular and tissue based products; and COALITION, COALITION MIS, COALITION AGX, MONUMENT, MAGNIFY-S, HEDRON IATM, HEDRON ICTM, INDEPENDENCE, INDEPENDENCE MIS, FORTIFY and XPAND families, SABLETM, RISE, RISE INTRALIF, RISE-L, ELSA, ELSA ATP, RASS, ALTERA, ARIEL, LATIS, CALIBER and CALIBER-L products. 

Shares have formed a bullish "cup and handle" and are expected to move higher from this formation.

Entry Point: $82.75

Trading Range: $47.34 - $83.18

Stop Loss: $78.55

Target Price: $91.00

Position closed on 8/26/2021 at price of $77.75 with a -6.04% loss in 30 days.

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