GlaxoSmithKline start of correction in short term?
Glaxo meets has been performing consistently well in past few months time and might pause for a while it seems. It will either be time correction where it will remain in same level range for some time or price correction like a retracement of the price after the impulsive move.
Eventually long term trend seems positive but in short term like a daily timeframe it might give a corrective move. If it's a price correction then it might corrects of the levels of 2010-1942-1890 . No comments on the time correction levels as it's long term trend seems up and can see up levels of 2480.
No recommendations, just my view based on the chart pattern. The triangle pattern seems to have worked out pretty well in the last view of this stock going from 1300 levels to 2100.
Eventually long term trend seems positive but in short term like a daily timeframe it might give a corrective move. If it's a price correction then it might corrects of the levels of 2010-1942-1890 . No comments on the time correction levels as it's long term trend seems up and can see up levels of 2480.
No recommendations, just my view based on the chart pattern. The triangle pattern seems to have worked out pretty well in the last view of this stock going from 1300 levels to 2100.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.