Wednesday, 17 September 2014

U.K. Stock pick of the day : Glaxosmithkline Plc


U.K. stock pick of the day

RECOMMENDATION BUY
TARGET 1500

The primary trend of Glaxosmithkline Plc is side ways and from last few trading session stock is showing strenght for buying and looking strong on charts.Stock is showing buying from dips and facing resistance from the falling trend line breaching of it can show upside movement .One can make a long position in the stock above the level of 1450 with sl of 1420 for the target of 1500.

CHART FORMATION:-

Stock has managing to trade with positive bias and consolidating near to resistance level crossing of it can show northward journey.
It's 200 DMA has given the break out above 50 DMA which is indicating buying in the stock.

INDICATORS:-

RSI is trading above the level of 50 and forming downward channel , Breaching of the channel can manage to test the level of 70.
Fast line has given the break out above slow line and it's sustains above the zero level.
ADX is trading above 25 lvel , Positive DI has given the break out above negative DI.