GlaxoSmithKline PLC Forecast and Stock Analysis
Technical GSK stock analysis for March 22, 2019.
|Shorts||2.82% ( 2019-02-28 )|
GlaxoSmithKline PLC gained 0.02% in the last trading day, rising from $41.24 to $41.25 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 6 of the last 10 days and is up by 2.82% over the past 2 weeks. Volume fell in the last day by -0.06 million shares, and in total, 2.51 million shares bought and sold for approximately $103.56 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the GSK stock was $41.25. This is 0.02% more than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 0.90% from a day low at $41.25 to a day high of $41.62.
30 day high of the GSK stock price was $41.62 and low was $39.82.
90 day high was $41.62 and low was $36.96.
52 week high for the GlaxoSmithKline PLC - $42.36 and low - $36.41.
GlaxoSmithKline PLC lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.61% during the next 3 months and, with 90% probability hold a price between $43.45 and $45.78 at the end of this period.
Only positive signals in the chart today. GlaxoSmithKline PLC holds buy signals from both short- and long-term moving averages. In addition, 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 $40.76 and $40.46. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday March 12, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
The stock holds a RSI14 at 75 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
GlaxoSmithKline PLC finds support from accumulated volume at $39.20.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.37 (0.90%) between high and low. For the last week, the stock has had a daily average volatility of 0.90%.
Our recommended stoploss: $39.45 (-4.37%) (This stock has low daily movements and this gives low risk. The RSI14 is 75 and this increases the risk substantially. There is a buy signal from pivot bottom found 8 days ago.)
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Evaluation: Strong Buy Candidate
GlaxoSmithKline PLC holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.