GLAXO is BullishGLAXO is currently looking extremely bullish and looks ready for an upside move. It has printed first higher high followed by a higher low, which is the first condition of Dow theory. Targets are mentioned on the chart.
GLAXO trade ideas
BullishPlan1
Buy above 86.30
Sell around 88.50 then 92
Stoploss 83 (closing basis)
Plan2
Buy1 around 83.50 - 84
Buy2 around 80.50 - 81
Sell around 86 -88.50
Stoploss 80 (closing basis)
PSX: GLAXO eying a new journey to north.After touching the high of 97.50 in the recent days the stock retraced back to the level of 75. The stock is in consolidation and it is expected to crossover swing high of 86. When it closed above we may initiate a long position with the target of 128 & beyond
Wishing you Profitable Trading
Glaxo-PSX in Bullish trend 1DStock is having strong bullish divergence on Daily, plus have started making HH and HLs as per DOW theory.
GLAXOBuy1 : around 91 - 92
Buy2 : around 88 - 88.50
TP1 : 95
TP2 : 97.50
TP3 : 102 - 104
SL : 85 (closing basis)
PSX: GLAXO HAS IT HIT THE BOTTOM ROCK.The Script has been striving to find the solid ground to lay the foundation of it north bound journey. These efforts started with the start of 2023. This consolidation period seems to be completed soon because on daily RSI chart the script has successfully found the support at RSI 50 after getting price rejection at Rs.82.
On weekly charts the the RSI has been showing bullish divergence frequently since the beginning of this year.
Since the volumes and price bar has positive outlook we can take immediate position and the Dow followers can wait to crossover the Rs.85.90 price level.
Potential TPs are at resistance levels.
