GlaxoSmithKline plc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Friday for GlaxoSmithKline plc stock after gaining 0.289%
(Updated on May 03, 2024)
The GlaxoSmithKline plc stock price gained 0.289% on the last trading day (Friday, 3rd May 2024), rising from £1,728.50 to £1,733.50. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.46% from a day low at £1,718.00 to a day high of £1,743.00. The price has risen in 9 of the last 10 days and is up by 8.41% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 4 million shares were bought and sold for approximately £7.35 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current horizontal trend, you can expect GlaxoSmithKline plc stock with a 90% probability to be traded between £1,569.48 and £1,720.65 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. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GSK.L Signals & Forecast
Mostly positive signals in the chart today. The GlaxoSmithKline plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £1,686.21 and £1,656.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 9.47%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Tuesday, December 19, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, December 19, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for GlaxoSmithKline plc stock
GlaxoSmithKline plc finds support from accumulated volume at £1,669.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £25.00 (1.46%) between high and low. For the last week, the stock has had daily average volatility of 2.18%.
Since the GlaxoSmithKline plc has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: £1,674.30 (-3.41%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (GSK.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect GlaxoSmithKline plc to open at £1,731.50, and during the day (based on 14 day Average True Range), to move between £1,704.35 and £1,762.65, which gives a possible trading interval of +/-£29.15 (+/-1.68%) up or down from last closing price. If GlaxoSmithKline plc takes out the full calculated possible swing range there will be an estimated 3.36% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £1,669.80, some £63.70 (3.67%) from the current price of £1,733.50, our system finds the risk reward attractive.
Earnings coming up
GlaxoSmithKline plc will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.464. We will update the financials statements for GlaxoSmithKline plc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.32% in the first trading day after earnings release.
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 plc stock to perform well in the short-term period.
Current score: 2.133 Buy Candidate Unchanged
Predicted Opening Price for GlaxoSmithKline plc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £1,731.50 ( 0.115%) | £1,733.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GSK.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,756.50 | 1.33 % | |
| R2 | 1,746.95 | 0.776 % | ||
| R1 | 1,741.05 | 0.436 % | ||
| Current price: | 1,733.50 | |||
| Support | S1 | 1,721.95 | -0.666 % | |
| S2 | 1,716.05 | -1.01 % | ||
| S3 | 1,706.50 | -1.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1,733.50 | |||
| Support | S1 | 1,669.80 | -3.67% | |
| S2 | 1,660.00 | -4.24% | ||
| S3 | 1,649.60 | -4.84% |
GSK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | Jul 11, 2024 | £15.00 | 0.87% |
| 2 | Feb 22, 2024 | Feb 22, 2024 | Apr 11, 2024 | £16.00 | 0.98% |
| 3 | Nov 16, 2023 | Nov 16, 2023 | Nov 16, 2023 | £0 | 0% |
| 4 | May 18, 2023 | May 18, 2023 | May 18, 2023 | £14.00 | 0.98% |
| 5 | Feb 01, 2023 | Feb 23, 2023 | Apr 13, 2023 | £13.75 | 0.90% |
FAQ
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