So, let's analyze Glaxo Smith
On 1M TF it still look bullish as the resistance is getting tested to turn into support.
1W & 1D TF also show bullishness.
If it forms "W" on daily TF and then breaks out, it could potentially reverse from there.
Any candle close below (1900-1870) zone on weekly TF could mean that the stock has failed it's re-test.
Zones have been...
Hello,
Here i will be talking about the process for picking up the stocks based upon the Relative Strength. As this is known to everyone but only few are getting benefitted by applying it in real trading. Most of the gains are made with the stocks having greater RSI. If RSI having > 75 those are the ones which create maximum wealth in Short time. Now, Question...
GLAXO
1) Time Frame - Monthly. Kindly change the time frame to weekly for better understanding.
2) 13 Years of consolidation (Since 2010) broken & Closed strong in WEEKLY time frame.
3) Stock will find its strong resistance / profit booking zone at the primary trendline in the long term.
4) Recommendation - Strong Buy
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...
Script is long consolidation monthly brekaout of resistance 1911 from the year 2015. And strong day bullish and good closing. If weekly close above 1911 , then it will reach the target of 2598
GLAXO has given 8 years range breakout from 1920 resistance levels.
SL Daily candle close below 1910.
Target: 2550+
Note: As the stock is giving 8 years range breakout, usually this is a good sign for fresh longs and can see 50% to 200% rise in coming weeks / months.
GlaxoSmithKline Pharmaceuticals is a pharmaceutical company engaged in the business of manufacturing, distributing and trading in pharmaceuticals. The Company develops a range of products in pharmaceuticals, vaccines and consumer healthcare.
Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always...
Glaxo smith pharma is in a parallel channel for the past 13 years. Fibonacci trend extensions and volume trends indicate a good rally till 3000 levels in coming year. Fundamentals are good and price projections are possible till 3100 level.
As explained, Glaxo is looking strong for a reversal near support trendline. Trendline breakout can be a beartrap.
RSI positive divergence in weekly TF is supporting the analysis. Best buy is near 1265 with SL below 1227 and target of 1345+.
However, this idea is shared just for educational purposes and not a recommendation.
GLAXO is testing 1900 level which has been major resistance since 2016. Stock belongs to PHARMA sector which has given a breakout & it doing well.
This should close above 1910 on weekly basis for any upside.
This is not a buy sell recommendation but only for educational purpose.
Thanks
Piyush Gupta
Learn & Earn
GLAXO showing good volumes these past few weeks and price has followed it quite well.
Its breaking out of a large weekly base (80+ weeks), lets see if this follows the large BO trend.
Chart suggests clear buyer interest here, This BO pivot level can be taken as the next support here.
![GLAXO: GLAXO BO [Weekly]](https://s3.tradingview.com/g/gVJMAUnF_mid.png "GLAXO BO [Weekly]")
