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Price has tested 1380 numerous times which can be seen with the long wicks testing and rejecting this level.
There is RSI Divergence also which shows weakness in the price, sell a break of the counter trend and target the lows.
Alternatively set an alert just above 1380 if the price breaks and closes above this level it would be a strong buy signal.
Signs of an uptrend following the bearish run.
Hold till resistance level/overbought RSI/signs of bearish reversal
Place stop loss at 1264
Ris/reward ratio: 4
It was Aug 1 and I was looking through the various constituents of my watchlist and I came to GSK on the FTSE. GSK has been trending down since Jun 22 and I was looking to see how that trend was developing. What I saw caught my attention. The last candle in what was looking to be a fairly well established downtrend was a doji . Dojis are usually interpreted as ...
Looking for more bearish price action moving forward after the latest delays, may see wave lows tested on the daily charts.
obviously this will depend on the results but healthcare has been performing badly of late (Trump), and shares may be pressured
Looking at volume and this morning star would lead me to believe that we are in for some buying pressure to be introduced. I can definitely see 1720 coming in, especially with GSK's selling of parts of business to other firms: http://www.reuters.com/article/us-gsk-aspen-pharmacare-idUSKCN11I0LV