Glaxosmithkline (GSK)

 

Trends and Targets for 8/02/2018

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GSK (LSE:GSK) This week, we've been taking the easy option for 'headline' subjects by choosing shares from our email. Today, it's GSK's turn under the spotlight, a well established share currently showing some rather unexpected potentials for the future.

To dissect the various trends, we'll start with the obvious. GSK has exhibited a Glass Floor since 2002 at 10 quid, a level considerable effort has been made to avoid breaking. If 10 quid breaks, we're calculating bottom at 650p.

Is there a risk of this?

Unfortunately, the answer is yes.

Currently, we're showing the potential of weakness toward 1177p with further travel below 1243p. Our secondary target, the point where we almost demand a bounce, calculates at 1036p. This is where life is liable to become rather dangerous, simply due to the logic, should 1036p make a guest appearance, of the price making Lower Lows than any point since 2010. As a result, we will not be confident the historical Glass Floor shall hold as negative news could very easily drive an express ride to 650p.

What does the share price need do to get out the immediate mess?

Thankfully, it already appears to be making the right steps. The plunge on the 6th February allegedly empowered recovery toward 1288p. If such a level had been bettered (it was), this ticks our first box for bottom being "in" on the immediate price cycle. It also creates the scenario where movement now above 1295p is supposed to drive the share upward to 1323p. Our secondary target, should such an ambition be exceeded, calculates at 1395p, comfortably above a prior series of Highs and hopefully capable of catapulting this upward.

For now, it's at the edge of dangerous but realistically does not require much work to present some near term potentials.

Chart goes here

FUTURES

 


Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

UP

9:49:30PM

BRENT

65.2

               

'cess

--

9:53:32PM

US CRUD

61.49

               

'cess

UP

9:57:08PM

GOLD

1318

               

'cess

UP

10:00:13PM

FTSE

7226

               

--

10:03:01PM

FRANCE

5231

5170

5148.5

5108

5256

5268

5303.5

5380

5163

Shambles

--

10:09:41PM

GERMANY

12507

12467

12403

12320

12597

12657

12673

13001

12418


--

10:13:28PM

US500

2669.53

               

'cess

UP

10:17:26PM

DOW

24765

               

--

10:23:01PM

JAPAN

21768

               

 

SUCCESS above means both FAST & SLOW targets were met. 'CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.

Our commentary is in two sections. Immediately below are today's updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION

Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.

UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.

 

We can be contacted at [email protected] Spam filters set to maximum so only legit emails get through...

 


Section One - Outlook Updated Today. Click here for Section Two - Outlook Remains Valid shares

 

 

Click Epic to jump to share: LSE:ASC Asos** **LSE:BP. BP PLC** **LSE:FRES Fresnillo** **LSE:IAG British Airways** **LSE:IHG Intercontinental Hotels Group** **LSE:IQE IQE** **LSE:KAZ Kaz Minerals** **LSE:POLY Polymetal** **LSE:RBS Royal Bank Scot** **LSE:RMG Royal Male** **LSE:TSCO Tesco** **

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Updated charts published on : Asos, BP PLC, Fresnillo, British Airways, Intercontinental Hotels Group, IQE, Kaz Minerals, Polymetal, Royal Bank Scot, Royal Male, Tesco,


LSE:ASCLSE:ASC Asos. Close Mid-Price: 7160 Percentage Change: + 2.55% Day High: 7188 Day Low: 7008

Movement now above 7188 should target an initial 7311p which, if bettered, ........

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View Previous Asos & Big Picture ***


LSE:BP.LSE:BP. BP PLC. Close Mid-Price: 485 Percentage Change: + 2.11% Day High: 490.85 Day Low: 476.85

While movement on BP above 491 remains pointing at 496 next with secondary ........

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View Previous BP PLC & Big Picture ***


LSE:FRES Fresnillo Close Mid-Price: 1249.5 Percentage Change: -2.76% Day High: 1293 Day Low: 1219.5

This appears to have gone "a little" wrong as it has moved into dangerous ........

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View Previous Fresnillo & Big Picture ***


LSE:IAGLSE:IAG British Airways. Close Mid-Price: 621.2 Percentage Change: + 0.55% Day High: 622 Day Low: 608.6

Weakness below 608 still suggests a dip to 575 next with secondary 537p. ........

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View Previous British Airways & Big Picture ***


LSE:IHGLSE:IHG Intercontinental Hotels Group. Close Mid-Price: 4623 Percentage Change: + 2.78% Day High: 4634 Day Low: 4488

Near term above 4634 allows for movement to an initial 4695 with secondary ........

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View Previous Intercontinental Hotels Group & Big Picture ***


LSE:IQELSE:IQE IQE. Close Mid-Price: 112.6 Percentage Change: + 4.65% Day High: 115 Day Low: 108

Target Met or near enough. Now above 116 and we're looking for some moveme ........

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View Previous IQE & Big Picture ***


LSE:KAZ Kaz Minerals Close Mid-Price: 787.6 Percentage Change: -0.71% Day High: 807.4 Day Low: 775

The scenario remains of movement above 808 pointing at an initial 833 with ........

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View Previous Kaz Minerals & Big Picture ***


LSE:POLY Polymetal Close Mid-Price: 757.8 Percentage Change: -2.32% Day High: 793.4 Day Low: 751

Price weakness now below 751 still presents a trip down toward 725p as a h ........

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View Previous Polymetal & Big Picture ***


LSE:RBSLSE:RBS Royal Bank Scot. Close Mid-Price: 280.7 Percentage Change: + 2.30% Day High: 283.3 Day Low: 273.3

As with many others, this failed to impress with the strength of bounce. H ........

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View Previous Royal Bank Scot & Big Picture ***


LSE:RMGLSE:RMG Royal Male. Close Mid-Price: 532 Percentage Change: + 4.64% Day High: 534.4 Day Low: 509.8

Target Met. Movements now above 535 paint a picture of 559 next with secon ........

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View Previous Royal Male & Big Picture ***


LSE:TSCOLSE:TSCO Tesco. Close Mid-Price: 202.5 Percentage Change: + 1.30% Day High: 203.4 Day Low: 195.1

As feared, Tesco has managed to blot its copybook as weakness below 195 ma ........

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View Previous Tesco & Big Picture ***


*** End of "Updated Today" comments on shares. Listed below are those where commentary remains valid.

Click Epic to jump to share:LSE:AFC AFC Energy** **LSE:AGM Applied Graph.** **LSE:AMER Amerisur** **LSE:AV. Aviva** **LSE:BARC Barclays** **LSE:BBY BALFOUR BEATTY** **LSE:BDEV Barrett Devs** **LSE:BLVN Bowleven** **LSE:BPC Bahamas Pet** **LSE:BT.A British Telecom** **LSE:CAR Carclo** **LSE:CASP Caspian** **LSE:CBUY Cloudbuy** **LSE:CEY Centamin** **LSE:DGE Diageo** **LSE:EME Empyrean** **LSE:EMG MAN** **LSE:EZJ EasyJet** **LSE:FGP Firstgroup** **LSE:FOXT Foxtons** **LSE:GENL Genel** **LSE:GKP Gulf Keystone** **LSE:GLEN Glencore Xstra** **LSE:HIK Hikma** **LSE:HL. Hargreaves Lansdown** **LSE:HSBA HSBC** **LSE:HUR Hurrican Energy** **LSE:IGAS Igas Energy** **LSE:IGG IG Group** **LSE:IPF International Personal Finance** **LSE:ITV ITV** **LSE:LLOY Lloyds Grp.** **LSE:LMI LonMin** **LSE:MKS Marks and Spencer** **LSE:MOS Mobile Streams** **LSE:NG. National Glug** **LSE:NIPT Premaltha** **LSE:OPG OPG Power Ventures** **LSE:OXIG Oxford Instruments** **LSE:PMG Parkmead** **LSE:PMO Premier** **LSE:POG Petrop etc** **LSE:POL Polo Resources** **LSE:PPC President Energy** **LSE:QFI Quadrise** **LSE:RED REDT** **LSE:RKH Rockhopper** **LSE:RR. Rolls Royce** **LSE:RTHM Rythm One** **LSE:SBRY Sainsbury** **LSE:SCLP Scancell** **LSE:SDY Speedyhire** **LSE:SGP Supergroup** **LSE:SHP Shire** **LSE:STAN Standard Chartered** **LSE:SUMM Summit** **LSE:SXX Sirius Mins** **LSE:TAN Tanfield** **LSE:TCG Thomas Cook Group** **LSE:TLW Tullow** **LSE:TW. Taylor Wimpey** **LSE:UKOG UK Oils and Gas** **LSE:VEC Vectura** **LSE:VED Vedanta** **LSE:VOD Vodafone** **LSE:VOG VICTORIA** **LSE:WTG Watchstone** **LSE:ZOL Zoldav** **

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Many thanks for taking the time to read this and good luck for today. Please feel free to mention us after something goes right!

 

Risk Warning & Notice to Investors

Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Trends and Targets Ltd, Shareprice, or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea.

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