UK: GlaxoSmithK shares price holds above the support – Analysis – 9-1-2019

GlaxoSmithk formed a minor bullish channel in its last trading, to notice its stability above the support at 1498.00, which confirms the price readiness to form a bullish attack in the near period, to expect reaching to 1543.00 to press on the obstacle that is located at 1566.70.

The stability of the moving average 55 below the current trading reinforces our bullish suggestion, to shrink the chances for pressing on the bullish channel’s support, also we notice by the above image stochastic attempt to form a bullish wave, to provide a new positive momentum until reaching the suggested targets.

Expected trading range for today is between 1511.00 and 1543.00

Expected trend for today: Bullish