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GSK Glaxo Smith Kline - Multi Year Lows, A Bargain To Be Bought?

Long
LSE:GSK   GLAXOSMITHKLINE PLC ORD 25P
GSK is trading around the multi year lows having bounced off of the long term support zone at 1300. I think this is a relative bargain at these levels with GSK being one of the Big Pharma Companies that is still trading way below the starting price for the year.

Pfizer , Johnson & Johnson and Roche are all either positive or around net zero YTD. Novartis is trading slightly lower and so is Merck and Co but not to the extent of GSK making it a bargain in the big Pharma world.

Dividend Yield is current around 5.3% which is high enough to warrant it being a good income stock even if the share price was to remain flat for the next 5 years.

Upside targets are at 1720 which is the next major price resistance zone and and 1850 which is the 18 year highs (formed in 2019).

There is a chance that price could fall back down to 1300 or even the multi year lows at 1235 which would make for a real bargain. But even at the current price of 1378.00 I think over the next 5 years this is a good stock to hold.

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