$GSKA potential "ABC" pattern has been located here at a level where two previous support levels were broken. Price is near the 11-2023 support level. Looking for a retracement here to two targets overtime.
GSK trade ideas
GSK 1-2 wk swing IdeaNYSE:GSK has set of a daily trigger with a 5/10 ema crossover after a positive earnings report.
During my planning for this idea, I needed to zoom WAY out to the monthly chart in order to understand these levels a bit more. Screen shot of the monthly below:
It turns out that last week's close put the stock right at a very long-standing Point of Control (yellow line) that has formulated from the March '97 breakout all the way until Friday, August 9th, 2024. That's over 27 years worth of trading. With that said, I'm not necessarily looking to play the monthly (yet).
The main idea came from the daily and weekly looks, which is why I'm looking for only a 1-2 week swing for now. Weekly screen shot below:
I'd love to enter closer to that 39.75 area, so I'll monitor this Monday to see if we get a pullback, but I'm also happy with the current price of ~40.26.
Each level is noted on the chart, and I'll be looking at the Sept 40c or 41c as they've had some action recently, although this is not a super high volume options chain as it is.
I will be checking on the OI Monday to see how that volume on Friday played out.
IF this stock gets to the full exit level of 43.31 and it's showing continued strength, I may leave a runner or 2 so long as it's just a small % of profits.
FWIW, I also like the Jan '26 42c LEAPS. Given how this name moves, that might actually be the more safer route, and could be held for the potential monthly pattern breakout idea. One could also trade the Sept chain, then roll out to the LEAPS with profits.
GSK (GSK) Outperformed Market ReturnsIn the latest trading session, GSK (GSK) closed at $37.10, marking a +1.23% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.63% for the day. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq added 0.39%.
Prior to today's trading, shares of the drug developer had gained 0.27% over the past month. This has outpaced the Medical sector's loss of 1.62% and the S&P 500's loss of 3.39% in that time.
Long Glaxo Smith Kline (NAS:GSK) looks very good risk returnUsing longer term Auction Market Theory to construct longer term meaningful #VolumeProfiles can sometimes provide exceptional risk reward setups.
One has just popped up in GSK according to my read anyway.
Now price has returned into the longer term Value Area there's a very good chance price will return at least to the Point of Control (or even to the top of the Value Area).
$GSK: Weekly trend signalGreat reward to risk in this weekly chart setup in $GSK, worth a shot, you can probably play it with options to not allocate too much capital in this idea and have limited downside risk. An ITM put spread or some kind of Iron Butterfly OTM can both reap the passage of time profiting from Theta dropping and also give a positive reward to risk if carefully implemented. Target zone is 41.35 by mid to late April.
Best of luck!
Cheers,
Ivan Labrie.
Good Entry for Long Term InvestmentGSK plc, together with its subsidiaries, engages in the creation, discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare. The company offers pharmaceutical products comprising medicines in the therapeutic areas, such as respiratory, HIV, immuno-inflammation, oncology, anti-viral, central nervous system, cardiovascular and urogenital, metabolic, anti-bacterial, and dermatology. It also provides consumer healthcare products in wellness, oral health, nutrition, and skin health categories. The company offers its consumer healthcare products in the form of nasal sprays, tablets, syrups, lozenges, gum and trans-dermal patches, caplets, infant syrup drops, liquid filled suspension, wipes, gels, effervescents, toothpastes, toothbrushes, mouthwashes, denture adhesives and cleansers, topical creams and non-medicated patches, lip balm, gummies, and soft chews. It has collaboration agreements with 23andMe; Lyell Immunopharma, Inc.; Novartis; Sanofi SA; Surface Oncology; Progentec Diagnostics, Inc.; Alector, Inc.; and CureVac AG., as well as strategic partnership with IDEAYA Biosciences, Inc. and Vir Biotechnology, Inc. The company was formerly known as GlaxoSmithKline plc and changed its name to GSK plc in May 2022. GSK plc was founded in 1715 and is headquartered in Brentford, the United Kingdom.
This is hitting 20 year lows. Since it is based in the U.K., I bet it will do better as the EURUSD does better against the @ dollar DXY
Do your own due diligence
GSK - Zantac - Haleon MessGSK technically at Jan 1992 Support/Resistance level.
On news of the Zantac issue.
This presents what could be a descending triangle pattern.
Will they be able to walk away from this horrible situation (for those that have consumed the original Zantac there are no words to describe)?
GSK Death Cross my be hugely bullish after all !GlaxoSmithKlein (GSK) just formed a Death Cross on the 1D time-frame, which is when the 1D MA50 (blue trend-line) crosses below the 1D MA200 (orange trend-line). This is technically a bearish pattern but last time it formed (March 24 2020) was exactly on the bottom of the COVID crash and the price recovered rapidly.
That was of course in the aftermath of the massive economic package in an attempt to support the economy from the lockdown but even now there is upside potential and some levels to consider on the short-term.
As you see, since April 11, the stock has been trading within a perfect Channel Down. This indicates a systematic downtrend. As long as the 1D MA50 holds, such rises are sell opportunities towards a Lower Low, in which case its on the 0.236 now. Since we are trading so close to the 1D MA50, a tight sell now with the SL located at the top of the Channel Down, has an excellent Risk/ Reward ratio.
Similarly, if the price breaks above the top of the Channel Down, the R/R is favorable in going on a tight buy targeting the upper Fibs and ultimately the 47.00 Resistance. Notice how the 1D RSI bounced off near the 30.00 oversold level, which has initiated massive rebounds another 4 times within the long-term Channel Up.
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