GlaxoSmithKline plc Stock Forecast
GlaxoSmithKline plc stock downgraded to Sell Candidate
(Updated on Jun 14, 2024)
The GlaxoSmithKline plc stock price fell by -2.05% on the last day (Friday, 14th Jun 2024) from $20.50 to $20.08. During the last trading day the stock fluctuated 0% from a day low at $20.08 to a day high of $20.08. The price has fallen in 4 of the last 10 days and is down by -11.35% for this period. Volume has increased on the last day by 900 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 thousand shares were bought and sold for approximately $20.08 thousand.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $19.67 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.42% during the next 3 months and, with a 90% probability hold a price between $20.34 and $23.92 at the end of this 3-month period.
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GLAXF Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 2.61%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The GlaxoSmithKline plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $20.57 and $21.55. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). GlaxoSmithKline plc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Tuesday, June 04, 2024 and based on theory for this formation the price should go up by 13.61% to $22.81 within 29 trading days since signal was issued (Monday, June 17, 2024).
Support, Risk & Stop-loss for GlaxoSmithKline plc stock
GlaxoSmithKline plc finds support from accumulated volume at $20.07 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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0.145%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GLAXF) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect GlaxoSmithKline plc to open at $20.08, and during the day (based on 14 day Average True Range), to move between $19.65 and $20.51, which gives a possible trading interval of +/-$0.427 (+/-2.13%) up or down from last closing price. If GlaxoSmithKline plc takes out the full calculated possible swing range there will be an estimated 4.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $20.07 (0.05%) than the resistance at $20.51 (2.12%), 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?
The GlaxoSmithKline plc stock holds several negative signals and despite the positive trend, we believe GlaxoSmithKline plc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.456 Sell Candidate Downgraded
Predicted Opening Price for GlaxoSmithKline plc of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $20.08 ( 0%) | $20.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLAXF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.08 | - |
| R2 | 20.08 | - |
| R1 | 20.08 | - |
| Price | 20.08 | |
| S1 | 20.08 | - |
| S2 | 20.08 | - |
| S3 | 20.08 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.50 | 12.05% |
| R2 | 22.12 | 10.13% |
| R1 | 20.51 | 2.12% |
| Price | 20.08 | |
| S1 | 20.07 | -0.0498% |
| S2 | 19.57 | -2.54% |
| S3 | 19.54 | -2.69% |
GLAXF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | Jul 11, 2024 | $0.188 | 0.94% |
| 2 | Feb 22, 2024 | Feb 22, 2024 | Apr 11, 2024 | $0.203 | 0.99% |
| 3 | Nov 16, 2023 | Nov 16, 2023 | Jan 11, 2024 | $0.174 | 0.87% |
| 4 | Aug 17, 2023 | Aug 17, 2023 | Oct 12, 2023 | $0.178 | 0.97% |
| 5 | May 18, 2023 | May 18, 2023 | May 18, 2023 | $0.175 | 0.97% |
FAQ
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