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GlaxoSmithKline Pakistan LimitedGlaxoSmithKline Pakistan LimitedGlaxoSmithKline Pakistan Limited

GlaxoSmithKline Pakistan Limited

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# GlaxoSmithKline Pakistan Ltd. (GLAXO)Time Frame: Weekly Pattern: AB=CD Harmonic Pattern Trend: Strongly Bullish 🔎 Pattern & Structure The chart highlights a harmonic AB=CD pattern, a bullish continuation setup. The stock has already completed its A → B → C leg, and is now projecting towards point D, which aligns with higher price targets. Price is holding above key moving averages (red, blue trendlines), confirming uptrend momentum. Order block zones (green) act as strong demand levels below current price, providing support. 📈 Trade Plan Buy Stop: Rs. 495.21 (confirmation breakout level) Stop Loss (SL): Rs. 333.76 (below strong support zone) Target Prices: TP1: Rs. 651.77 TP2: Rs. 774.08 📊 RSI Divergence Indicator Current RSI = 60.97, leaning bullish while staying below overbought levels. Past bearish divergences (red markers) signaled temporary pullbacks, but long-term uptrend stayed intact. Historical bullish divergences (green) aligned well with bottoms, adding credibility to the current bullish outlook. RSI suggests further upside potential before any exhaustion. 🚀 Projection Path Breakout above Rs. 495 will confirm continuation of the AB=CD bullish leg. First major upside target is Rs. 651.77, followed by Rs. 774.08, completing the projected harmonic move. Sustained buying pressure could push GLAXO beyond Rs. 774 in the long run. ⚠️ Risk Management SL at Rs. 333.76 protects against a failed pattern or breakdown. Watch for weekly close above 495 for confirmation before entry. Global pharma sentiment, local healthcare demand, and PSX trends may act as catalysts. ✅ Conclusion: GLAXO is in a bullish harmonic structure (AB=CD) with upside targets of Rs. 651 and Rs. 774. With RSI supportive and trend strongly bullish, a breakout above Rs. 495 could mark the beginning of a new impulsive rally.
PSX:GLAXOLong
by Musarrat_karamat
GLAXO-1H (PSX) – Bullish Reversal; Targeting: 435 - 475📊 GLAXO-1H (PSX) – Short-Term Analysis; Targeting: 435 - 475 CMP: 410 GlaxoSmithKline Pakistan Limited (GLAXO) is currently trading within a critical Golden Pocket Zone, between the 50% and 61.8% Fibonacci retracement levels, around 423.69 to 411.50. This zone often acts as a strong support area where price reversals are highly probable. The Stochastic RSI is deeply oversold, indicating that selling pressure may be exhausting and a potential bounce could be near. Price action is stabilizing around 410, suggesting short-term support. As long as GLAXO holds above 410, there is a good chance for a rebound toward 423–425 initially, and further upside toward 435–445 & 461 - 475 if momentum builds . However, a breakdown below 400 would weaken the bullish setup and open room for more downside. Cautious optimism is advised while monitoring for confirmation signals above 415.
PSX:GLAXOLong
by tradeflowadvisors
Glaxo Stock Trading StrategyGlaxo is in an uptrend. A buying opportunity arises if the stock weakens to 430-420, with: Key Levels: 1. *Buy zone*: 430-420 2. *Stop loss*: 410 3. *Target 1*: 460 4. *Final target*: 485 Strategy: 1. *Buy on weakness*: Enter the trade if the stock price dips to 430-420. 2. *Risk management*: Set a stop loss at 410 to limit potential losses. 3. *Profit targets*: Aim for 460 and 485. Considerations: 1. *Market conditions*: Monitor overall market trends and news.
PSX:GLAXOLong
by PSX_TradeWithTrend
Glaxco Stock Buying OpportunityGlaxco is in an uptrend. A buying opportunity arises if the stock weakens to 430-420, with: Key Levels: 1. *Buy zone*: 430-420 2. *Stop loss*: 410 3. *Target 1*: 460 4. *Final target*: 485 Strategy: 1. *Buy on weakness*: Enter the trade if the stock price dips to 430-420. 2. *Risk management*: Set a stop loss at 410 to limit potential losses. 3. *Profit targets*: Aim for 460 and 485. Considerations: 1. *Market conditions*: Monitor overall market trends and news.
PSX:GLAXOLong
by PSX_TradeWithTrend
Glaxco Stock Buying Opportunity:Glaxco is in an uptrend. A buying opportunity arises if the stock weakens to 430-420, with: Key Levels: 1. *Buy zone*: 430-420 2. *Stop loss*: 410 3. *Target 1*: 460 4. *Final target*: 485 Strategy: 1. *Buy on weakness*: Enter the trade if the stock price dips to 430-420. 2. *Risk management*: Set a stop loss at 410 to limit potential losses. 3. *Profit targets*: Aim for 460 and 485. Considerations: 1. *Market conditions*: Monitor overall market trends and news.
PSX:GLAXOLong
by PSX_TradeWithTrend
GLAXO - PSX - Technical AnalysisGLAXO on Daily TF is moving up in a parallel channel, and presently at the support of channel. RSI has a bearish divergence present. Moreover, since 28 Oct 2024, KVO was in a bullish state but today on 09 Dec 2024 it has changed to bearish as it has dipped below zero level indication a likely retracement. Fib retracement up till 38.20% will be very good to define a prominent HL for the next leg of AB=CD pattern. Even retracement up to 50% can not be ruled out. My Trade Values Buy-1: 333 Buy-2: 310 TP-1: 455 TP-2: 531 SL: 287 In case price goes up from here taking support from the parallel channel then it will go up to hit TP-1 and then retrace to make at HL and then next leg of AB=CD pattern will begin whose Target should be TP-3.
PSX:GLAXOLong
by Golden_Spur