So they had a death on the vaccine research and look to be forming a head and shoulder pattern which is typical of a reversal in price, how come the news always comes so in time? the markets are so fascinating.
Placing was at 6.15p
Jupiter fund seller out - TR1 to confirm
BoD own 11% of the company
Acquisition of hVIVO back in December 2019
New presentation online
at £28.6m mcap we are undervalued
I have 8p as 1st target but we could breakout eventually & head to 9.15p then pullback to 8p & continue the bull trend after.
Will re-evaluate once we hit 8p.
SELL – GLAXOSMITHKLINE (GSK)
GlaxoSmithKline PLC is a global healthcare company. The Company operates through two segments: Pharmaceuticals and Vaccines. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.
Really like this chart & can see a good rise after MM's pull price down to support at 74.4p - also 200ma weekly at 72p
Best to scale in near the support level but watch out if RSI support level is not respected or 200ma as well, be ready to move out if so.
Look for retrace of RSI to support or 1.18p (whatever comes first) before re-entry or top-up
it failed to brake 2.59p resistance so therefore it will need a breather if no news
5.49p next resistance if 2.59p is broken.
If 1.18p is lost run for the hills!
FSD Pharma looks like it is in accumulation, before a move upwards that could reach as far as the local resistance 'first trouble area' before retracing back down - there would need to be significant upswing in buying volume to go further than that.
Bollinger Bands looks awfully similar to how they did in July 2018 shortly before accumulation and...
Last post: April 28th. See chart .
Review: Price had broken out of consolidation and was trending well following this.
Update: Price is fast approaching £1.00 where it may find resistance.
Conclusion: Once price breaks through £1.00 we can look for long opportunities.
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