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SWING IDEA - GLAXO SMITHKLINE P

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GlaxoSmithKline Pharmaceuticals, a major player in the pharmaceutical industry, is displaying technical signals that suggest a potential swing trade opportunity.

Reasons are listed below :

Breakthrough of Strong Resistance (1800-1900): The 1800-1900 range was a significant resistance level. The price has broken through, retested, and is now making new highs, indicating strong bullish momentum.
Breaking a 9+ Year Consolidation Phase: The stock has emerged from a consolidation phase that lasted over 9 years, signaling a potential new long-term bullish trend.
Bullish Engulfing Candle on Weekly Timeframe: The recent bullish engulfing candle on the weekly chart indicates a significant shift towards bullish sentiment, engulfing the previous week's candle and suggesting further upward movement.
0.5 Fibonacci Support: The stock has found support at the 0.5 Fibonacci retracement level, reinforcing the potential for a continued bullish trend after a retracement.
Increased Volumes: A noticeable increase in trading volumes confirms the strength of the price move, indicating strong investor interest and participation in the current trend.
Trading at All-Time High: The stock is trading at its all-time high, suggesting strong market confidence and the potential for further gains. However, it's also important to monitor for signs of overextension or profit-taking at these levels.

Target - 2940 // 3600
Stoploss - weekly close below 1950

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@visionary.growth.insights

註釋

Made a high of 12.5%++

註釋

Consolidating

註釋

fast move is expected above 2760, HOLD!

註釋

made a high of 19%+, hold!

交易結束：目標達成

1st target achieved : 24%+

註釋

new high this week, hold!