I previously posted a longterm stock position that I added to my portfolio. This was GSK (GlaxoSmithKline) which is trading at the lower levels of its range and has good growth potential but also a sturdy dividend yield of more than 5% each year.
This stock has seen some strong bullish momentum this week and has broken out of a consolidation structure. The bearish trendline was broken and price is now retesting the trendline and looking for support.
In this current area we have the daily pivot level and also 15minute and 1hr 50EMA's for support. I think if the trendline now holds strong, price will go on to climb up to new yearly highs of 1480p where resistance lies.
This stock has seen some strong bullish momentum this week and has broken out of a consolidation structure. The bearish trendline was broken and price is now retesting the trendline and looking for support.
In this current area we have the daily pivot level and also 15minute and 1hr 50EMA's for support. I think if the trendline now holds strong, price will go on to climb up to new yearly highs of 1480p where resistance lies.
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Previous trade entry was @ 1380p per share.
