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| 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.
