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
GSK is currently rebounding on its 1270 - 1300 support. The stock has drawn a double bottom in monthly consolidated on the historical support of the 1000 pences. In April 2013, the neckline of the double bottom was broken but directly followed by a pullback on the 1270-130 level. We think it is now the good time to have the validation of the double bottom and a...
It looks like IF you Buy GSK , and wait for $36.07 = You can Hold it for a lifetime.
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...
Since our last bullish outlook on the pharmeceutical sector, Revelation Trading feels that this is one stock to look out for. Though it has caused a slight dent, the failure of Congress to repeal and replace Obamacare has not caused the pharmaceutical stocks in our radar to tumble. In fact, they have held their well defined ranges. That to us, is strength. Also,...
A few week duration Long here. GSK seems to be hitting symmetry in the last timeframe. There's some remaining price structure to balance out from the 37 levels. The market knows 37 it can find buyers, it doesn't know 2x as far away at 45.50 if it can find sellers again. I believe it needs to see 45.50 before it can test the VPOC lower or move lower back to 37 and...
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
Price remove last 'peak' from left up moves and creating new wave up. I will wait on potential retracemnet arount to FIBO 61.8.
Nice setup, down side is limited, it's in monthly range of 60-30, downside is limited, Buy bottom of the range, a potential breakout to the upside will go over 100...
On the hourly timeframe, the decline in GSK beginning in Aug 2016 can't be counted as an impulse for sure. Maybe it's a leading diagonal that I'm not seeing, but I believe probabilities are best interpreted as a WXY pattern as labeled. Which implies it is a 2nd X wave down in a larger WXY (Ending Diagonal) pattern depending on how you interpret the Feb lows. I...
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: www.reuters.com
Shameless pun, the bulls seem to be back in control after a retrace to the 61.8% coming off a break of key weekly support a pull back to the upwards trend line could present good long term up targets on GSK to 1800s again
It might seem as a gamble especially that the earnings are scheduled for tomorrow, but there are some convenient technical points to be taken into consideration: 1) Down Trendline broken: 2) EMA 50 Crossed above EMA 200 3) The Market Broke above a resistance now support at 43.50$, rallied a bit and now hovering around it; 4) Stop loss level around 43.40$,...