GLAXO Price action analysis

Based on the recent price action, GlaxoSmithKline Pharmaceuticals Ltd (GLAXO) is showing a strong bullish trend:

1. The stock surged 11.82% on February 18, 2025, closing at ₹2,608 after touching an intraday high of ₹2,744.95.

2. GLAXO has experienced a remarkable 29% gain over two consecutive trading sessions.

3. The stock is trading significantly above its key moving averages:
- 50-day SMA: ₹1,369.16
- 100-day SMA: ₹1,388.45
- 100-day EMA: ₹1,409.88

4. Technical indicators are predominantly bullish:
- RSI (14) at 56.81 indicates neutral to bullish momentum
- MACD at 25.06 suggests strong upward momentum
- Williams %R at -48.11 and ADX at 16.10 both indicate a buy signal

5. The stock has formed a bullish breakout pattern, surpassing its Bollinger Bands, Keltner Channel, and MA Envelope Band.

6. Volume analysis shows significantly higher trading activity, with the latest volume (2,465,000 shares) far exceeding the 5-period average volume (778,000 shares).

7. The Awesome Oscillator indicates a bullish reversal with a weaker twin peak formation.

Key factors driving the bullish trend:

1. Strong Q3 FY25 results with a 400% increase in net profit and 18% revenue growth.
2. Market share gains in the general medicines portfolio and strong growth in the respiratory portfolio.
3. Positive outlook from brokerages, with Motilal Oswal and ICICI Securities maintaining bullish stances.

However, traders should note:

1. The stock is currently trading about 19% below its 52-week high of ₹3,087.95 reached on August 22, 2024.
2. The 200-day SMA at ₹1,487.17 is below the current price, which could act as support in case of a pullback.

Given the strong momentum and positive fundamentals, the short-term outlook for GLAXO remains bullish. Traders should watch for potential profit-taking at these elevated levels and monitor key support levels for any signs of trend reversal.