GlaxoSmithKline Stock Forecast
GlaxoSmithKline stock price ended at $40.59 on Monday, after gaining 2.11%.
(Updated on Apr 22, 2024)
The GlaxoSmithKline stock price gained 2.11% on the last trading day (Monday, 22nd Apr 2024), rising from $39.75 to $40.59. During the last trading day the stock fluctuated 1.99% from a day low at $39.96 to a day high of $40.76. The price has fallen in 6 of the last 10 days and is down by -0.64% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $154.03 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect GlaxoSmithKline stock with a 90% probability to be traded between $39.85 and $44.51 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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GSK Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 3.36%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The GlaxoSmithKline stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $41.80. On a fall, the stock will find some support from the short-term average at $40.05. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for GlaxoSmithKline stock
GlaxoSmithKline finds support from accumulated volume at $39.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.795 between high and low, or 1.99%. For the last week, the stock has had daily average volatility of 1.23%.
Our recommended stop-loss: $38.54 (-5.05%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (GSK) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect GlaxoSmithKline PLC to open at $40.44, and during the day (based on 14 day Average True Range), to move between $40.01 and $41.17, which gives a possible trading interval of +/-$0.584 (+/-1.44%) up or down from last closing price. If GlaxoSmithKline PLC takes out the full calculated possible swing range there will be an estimated 2.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $39.44 (2.83%) than the resistance at $41.80 (2.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is GlaxoSmithKline PLC stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for GlaxoSmithKline stock to perform well in the short-term period.
Current score: 2.567 Buy Candidate Unchanged
Predicted Opening Price for GlaxoSmithKline PLC of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $40.44 ( 0.382%) | $40.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GSK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.23 | 1.58 % | |
| R2 | 40.93 | 0.83 % | ||
| R1 | 40.74 | 0.366 % | ||
| Current price: | 40.59 | |||
| Support | S1 | 40.13 | -1.13 % | |
| S2 | 39.94 | -1.59 % | ||
| S3 | 39.64 | -2.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.02 | 3.52 % | |
| R2 | 41.94 | 3.33 % | ||
| R1 | 41.80 | 2.98 % | ||
| Current price | 40.59 | |||
| Support | S1 | 39.44 | -2.83% | |
| S2 | 39.03 | -3.84% | ||
| S3 | 38.84 | -4.31% |
GSK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 01, 2024 | Feb 22, 2024 | Apr 11, 2024 | $0.399 | 0.98% |
| 2 | Nov 01, 2023 | Nov 16, 2023 | Jan 11, 2024 | $0.340 | 0.86% |
| 3 | Jul 26, 2023 | Aug 17, 2023 | Oct 12, 2023 | $0.361 | 0.98% |
| 4 | Apr 26, 2023 | May 18, 2023 | Jul 13, 2023 | $0.348 | 1.00% |
| 5 | Feb 01, 2023 | Feb 23, 2023 | Jul 13, 2023 | $0.340 | 0.98% |
FAQ
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