Is GlaxoSmithKline Setting for a Break?

New York, December 11th (TradersHuddle.com) - GlaxoSmithKline plc (NYSE:GSK) closed the the trading session at $43.97, near its 50 day and 200 day moving averages currently set at $44.54 and $45.33 respectively. GlaxoSmithKline's price action places the stock below these important levels, which makes it difficult to be bought, as it will certainly face resistance as it approaches these important moving averages.

GlaxoSmithKline plc (NYSE:GSK) is a research-based pharmaceutical group that develops, manufactures and markets vaccines, prescription and over-the-counter medicines, as well as health-related consumer products. Its over the counter medicines and health related consumer products are marketed under brand names like Panadol, Nicorette, Breathe Right, Tums, Aquafresh, and Sensodyne among others.

The latest price action range, defined by a peaks and troughs algorithm, placed calculated support at $41.68 and resistance at $47.40. Traders should monitor these levels, as they provide insight into the latest price dynamics in GlaxoSmithKline.

If traders want to establish a position on GlaxoSmithKline, given the heavy resistance expected near the 50 and 200 day moving averages, a trade might be evident as the stock manages to break these moving averages. However, until the break materializes buying the stock is nothing different than flipping a coin.

Note - Automated Content Created By TradersHuddle's Technical Scanner




Related Partner Headlines

    You could minimize risk by trading in stock sectors rather than individual stocks. Find out why ETFs are the hottest investment vehicle on the planet. Try ETF Profits for FREE NOW!

    TradersHuddle Search

    Stock Search:


    Site Search:

    Loading

    Technical Scans

    Recent Trading Ideas

    Latest Partner Headlines

    Stock Market

    Loading
    Chart
    o Dow Jones 16,424.85 ▲162.29 (1.00%)
    o S&P 500 1,862.31 ▲19.33 (1.05%)
    o NASDAQ 4,086.23 ▲52.06 (1.29%)
    INDEXDJX:.DJI

    Dow Jones

    Company ID [INDEXDJX:.DJI] Last trade:16,424.85 Trade time:4:31PM EDT Value change:▲162.29 (1.00%)
    INDEXSP:.INX

    S&P 500

    Company ID [INDEXSP:.INX] Last trade:1,862.31 Trade time:4:31PM EDT Value change:▲19.33 (1.05%)
    INDEXNASDAQ:.IXIC

    NASDAQ

    Company ID [INDEXNASDAQ:.IXIC] Last trade:4,086.23 Trade time:5:15PM EDT Value change:▲52.06 (1.29%)

    In The Wires

    Copyright © 2013 TradersHuddle.com. All Rights Reserved.