From Investopedia:

Globus Medical, Inc. (GMED)

stock had a short but swift decline at the start of July, followed by a consolidation. The price has been attempting to break out of the consolidation since July 17, and the strong surge higher on July 25 helped confirm the breakout. This signals that another wave up, in alignment with the long-term uptrend, could be commencing. Throughout the year, when the price has broken higher out of a consolidation, it has typically moved up by 8% or more. That puts an estimated profit target just above $35. A stop-loss could be placed below $31.50. The risk/reward can be improved by trying to obtain an entry price between $32.65 and $32.50 (slightly better than the July 25 close of $33.10). (See also: Investing in Medical Equipment Companies.)

Read more: Short-Term Breakouts Point to Higher Prices in These Stocks | Investopedia http://www.investopedia.com/news/shortterm-breakouts-point-higher-prices-these-stocks/#ixzz4nzi1Z7KC 
Follow us: Investopedia on Facebook