An intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
Short from $42.01.
- Market Cap: $102B
- Beta: 0.83
- P/B: 20.42
- GSK’s consumer healthcare segment sales were down in 2017 due to a slowdown in global growth of its key consumer categories.
- They have also faced pricing pressure from competition and slow down in emerging markets. Although GSK have several candidates in different stages of development, the...
I'm long in the long-run, short in the short run. The RSI on the longer term chart shows we're a bit overbought, and history tells us this results in a ~2% correction. We're seeing divergances where we'd expect them to confirm that. A nice coincidence is that the 37.4 target for a 2% drop is also a good support line.
Wait for a confirmation of a bounce around...
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.
A few week duration Long here.
GSK seems to be hitting symmetry in the last timeframe.
There's some remaining price structure to balance out from the 37 levels.
The market knows 37 it can find buyers, it doesn't know 2x as far away at 45.50 if it can find sellers again.
I believe it needs to see 45.50 before it can test the VPOC lower or move lower back to 37 and...
On the hourly timeframe, the decline in GSK beginning in Aug 2016 can't be counted as an impulse for sure.
Maybe it's a leading diagonal that I'm not seeing, but I believe probabilities are best interpreted as a WXY pattern as labeled.
Which implies it is a 2nd X wave down in a larger WXY (Ending Diagonal) pattern depending on how you interpret the Feb lows.
It might seem as a gamble especially that the earnings are scheduled for tomorrow, but there are some convenient technical points to be taken into consideration:
1) Down Trendline broken:
2) EMA 50 Crossed above EMA 200
3) The Market Broke above a resistance now support at 43.50$, rallied a bit and now hovering around it;
4) Stop loss level around 43.40$,...
notes on chart. GSK bearish trend for a long time now. Looks like it is ready to make some movements higher.
Risk is high because it has been consolidating for a long time. --Not to long or short until further confirmation how price will react at downtrend line is very critical. could have a nice spike up.
GSK has been in consolidation since it topped up on Jan 1999
i reckon big move is brewing just like the lava is boiling to be oozed out of a volcano ^_^
Note: there is a scary HS pattern in orange box, if price fall below 37.50, then my bullish bias will
Was just going through my charts and i saw this pattern pattern forming here.
GSK Bullish shark could possibly complete soon on the weekly. Pattern completes at 43.00 and expires below 39.80 levels. Both of these levels of the shark pattern are shown on the chart.
This pattern has formed within some good historic S/R levels also (The yellow rectangle),...