GSK.L rockets 2.27% on high volume


GlaxoSmithKline (GSK.L) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
GSK.L rallies 2.27% on high volume
GSK.L dominated by bulls lifting the market higher throughout the day
GSK.L closes higher for the 6th day in a row
GSK.L pushes through previous session high
GSK.L rises to highest close since July 25, 2017
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 6th day in a row, GSK.L ended Thursday at 1580.20 surging £35.00 (2.27%) on high volume. This is the biggest single day gain in over two months. Today's closing price of 1580.20 marks the highest close since July 25, 2017. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 1549.80, the share confirms its breakout through the prior session's high having traded £40.20 above it intraday.

Daily chart for GSK.L
Volatility

Thursday's trading range was £44.00 (2.85%), that's far above last trading month's daily average range of £19.52. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a slightly bullish sentiment for the next trading day, our quantitative statistics show a different picture being very bearish.

Market Conditions for GlaxoSmithKline
ConditionForecastDirectionWinAvgWorstBestEvents
Closed below last periods low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Black Candle TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

GSK.L finds buyers at key support level

Jun 21, 2018
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