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GLAXOSMITHKLINE PLC ORD 25P
LSE
GSK
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...
Price remove last 'peak' from left up moves and creating new wave up. I will wait on potential retracemnet arount to FIBO 61.8.
Shameless pun, the bulls seem to be back in control after a retrace to the 61.8% coming off a break of key weekly support a pull back to the upwards trend line could present good long term up targets on GSK to 1800s again
this pattern is developing after 2 weekly resistance breakouts, so I am really interested and I see lot of room for next move up.
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