fdeltenr
Long

GSK on a critical support

LSE:GSK   GLAXOSMITHKLINE PLC ORD 25P
GSK             is currently rebounding on its 1270 - 1300 support. The stock has drawn a double bottom in monthly consolidated on the historical support of the 1000 pences. In April 2013, the neckline of the double bottom was broken but directly followed by a pullback on the 1270-130 level. We think it is now the good time to have the validation of the double bottom and a bullish increase to the 1500 level first and then the 2100 level. We need to be careful with the possible double top drawn between 2013 an now, in case this one is validated we will use the 1000 pences support as backup scenario.
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