GLAXO trade ideas
Glaxo Stock Trading StrategyGlaxo is in an uptrend. A buying opportunity arises if the stock weakens to 430-420, with:
Key Levels:
1. *Buy zone*: 430-420
2. *Stop loss*: 410
3. *Target 1*: 460
4. *Final target*: 485
Strategy:
1. *Buy on weakness*: Enter the trade if the stock price dips to 430-420.
2. *Risk management*: Set a stop loss at 410 to limit potential losses.
3. *Profit targets*: Aim for 460 and 485.
Considerations:
1. *Market conditions*: Monitor overall market trends and news.
Glaxco Stock Buying OpportunityGlaxco is in an uptrend. A buying opportunity arises if the stock weakens to 430-420, with:
Key Levels:
1. *Buy zone*: 430-420
2. *Stop loss*: 410
3. *Target 1*: 460
4. *Final target*: 485
Strategy:
1. *Buy on weakness*: Enter the trade if the stock price dips to 430-420.
2. *Risk management*: Set a stop loss at 410 to limit potential losses.
3. *Profit targets*: Aim for 460 and 485.
Considerations:
1. *Market conditions*: Monitor overall market trends and news.
Glaxco Stock Buying Opportunity:Glaxco is in an uptrend. A buying opportunity arises if the stock weakens to 430-420, with:
Key Levels:
1. *Buy zone*: 430-420
2. *Stop loss*: 410
3. *Target 1*: 460
4. *Final target*: 485
Strategy:
1. *Buy on weakness*: Enter the trade if the stock price dips to 430-420.
2. *Risk management*: Set a stop loss at 410 to limit potential losses.
3. *Profit targets*: Aim for 460 and 485.
Considerations:
1. *Market conditions*: Monitor overall market trends and news.
Stock is Bullish but Currently moving in a Rectangular Channel.Stock is Bullish but Currently moving in a Rectangular
Channel.
Crossing 426 may lead it towards 450 &
Sustaining 450-455 may lead it towards 490 - 500.
However, breaking the Support of 360 will lead
it towards 290 - 300 where a Double bottom formation
can be seen.
It may test 350 - 355 on Weekly basis;It may test 350 - 355 on Weekly basis;
However, Monthly Closing above 354 would be
a positive sign.
Crossing 407 may give a further spike towards
390 & then may be around 400 - 430 +
Once 445 - 446 is Sustained, we may see a Huge
Rally towards New Highs (probably around 600+)
Breaking 350 would bring more Selling pressure.
GLAXO - PSX - Technical AnalysisGLAXO on Daily TF is moving up in a parallel channel, and presently at the support of channel. RSI has a bearish divergence present. Moreover, since 28 Oct 2024, KVO was in a bullish state but today on 09 Dec 2024 it has changed to bearish as it has dipped below zero level indication a likely retracement. Fib retracement up till 38.20% will be very good to define a prominent HL for the next leg of AB=CD pattern. Even retracement up to 50% can not be ruled out.
My Trade Values
Buy-1: 333
Buy-2: 310
TP-1: 455
TP-2: 531
SL: 287
In case price goes up from here taking support from the parallel channel then it will go up to hit TP-1 and then retrace to make at HL and then next leg of AB=CD pattern will begin whose Target should be TP-3.
GLAXO - PSX - LONG (Buy) Trade Call On Daily TF, Bullish Hidden Divergence on RSI has already played. However, price is above EMA 89 and Klinger Volume Oscillator is above zero line; therefore, both indicating the continuation of bull run. price with little bit retracement should continue upwards. Fib Extension Tool has been used to identify TPs for new all-time highs.
My trade values are mentioned below: -
Entry LONG (Buy) : 254
TP 1: 298
TP2: 330
SL: 208
GLAXO | More uptrend or reverse?The price action of GLAXO is currently in an uptrend. Recently, it broke through its trend line resistance and, according to the Impulse-Correction-Impulse (ICI) strategy, has since pulled back after retesting the breakout level. This retest has established dynamic support at the previous trend line resistance. The price is now hovering above the resistance level of 173.58, which is acting as initial support. The next resistance level is anticipated around 202.29. The Relative Strength Index (RSI) is currently at a level of 81 which indicates the stock is at overbought level. While MACD hovering above the neutral line.
PSX: GLAXO eying a new journey to north.After touching the high of 97.50 in the recent days the stock retraced back to the level of 75. The stock is in consolidation and it is expected to crossover swing high of 86. When it closed above we may initiate a long position with the target of 128 & beyond
Wishing you Profitable Trading
PSX: GLAXO HAS IT HIT THE BOTTOM ROCK.The Script has been striving to find the solid ground to lay the foundation of it north bound journey. These efforts started with the start of 2023. This consolidation period seems to be completed soon because on daily RSI chart the script has successfully found the support at RSI 50 after getting price rejection at Rs.82.
On weekly charts the the RSI has been showing bullish divergence frequently since the beginning of this year.
Since the volumes and price bar has positive outlook we can take immediate position and the Dow followers can wait to crossover the Rs.85.90 price level.
Potential TPs are at resistance levels.
