GSK - Resilience of Pharmaceutical Stocks Despite Obamacare
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, with reference to our post on 24th Jun, the NBI has also been maintaining its upward momentum. Thus Revelation Trading concludes that apart from the media sensationalising the failure to replace Obamacare, there is no change to our analysis on the sector.
With regards to GSK, we are looking for actionable ideas above 43 with an initial stop loss established at 40, targeting 45.50 and above.
Also, with reference to our post on 24th Jun, the NBI has also been maintaining its upward momentum. Thus Revelation Trading concludes that apart from the media sensationalising the failure to replace Obamacare, there is no change to our analysis on the sector.
With regards to GSK, we are looking for actionable ideas above 43 with an initial stop loss established at 40, targeting 45.50 and above.
Order cancelled:
Wrong chart - Apologies from the RT Team. Refer to updated idea above.