CHART OF THE WEEK - GlaxoSmithKline (GSK)

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DISCLAIMER: This chart is based on this date. I'm not suggesting a move up or down. I'm showing a chart I'm watching. I'm not recommending this stock as a purchase. Think of it like this, your showing the world thru my eyes and how I see this chart. Period!
CHART OF THE WEEK
GlaxoSmithKline	GSK		LAST TRADE >	$43.95
See Current Stock Price-GSK			POSTED ON	2/9/2020
See the World thru my eyes' - chart breakdown of the week
GlaxoSmithKline has been kicked after its most recent earnings report (-7%) ... seems the news is that some of its older drugs are being beat out by cheaper drugs ... which I'm sure is cutting in to profits. Very similar to other big pharma companies it seems they are trying to get bigger by getting smaller ... selling off some of its assets ... Yahoo Prem has them 'Fair Valued' and some recent Analyst have them as a BUY ... but that info may not have been refreshed since this recent fall due to earnings. ... They have a dividend coming and its pays a healthy 5% annually or ~0.50 per quarter ... which might set up for a CCW+DIV Capture trade... I posted the a good article about earnings below ... the chart shakes out VERY Favorably for a 'low entry' purchase with it being cut -7% at the knees ... I'm now watching GSK and WOULD do a CCW+DIV Capture trade if or when AmericanBulls.com changes its single from Stay Short to Long (not the end all be all for making this determination but one I like as a chart pattern to watch.)
Yahoo News - GSK profit falls short as cheap competition hits older drugs
https://finance.yahoo.com/news/gsk-profit-falls-short-cheap-155754417.html
RSI	SMA (100)	SMA (200)	KELT MID	OBV TREND
29.24	44.6	42.13	44.85	DEBATABLE
CLICK IMAGE TO SEE IT LARGER IN ITS OWN BROWSER WINDOW

What's the RSI telling me?
RSI - 20/30 represents a stock that is Over Sold and we need to have caution and understand why its being Over Sold. This is where I like picking up shares for a nice 'low entry' purchase
CPT - its RSI was hanging in that Bullish/Bearish RSI but now has dropped off so that this now needs to show me some Wall Street before I dip my toes in ... the only thing I'm thinking here is 'less downside v upside' which isn't always a good thing
Support Lines
SMA - When looking for a 'Low Entry' purchase we would love to BUY near the 100 day or 200 day support line. It's not 100% but its a 'Buy Low' situation vs 'Buying High'
CPT - I like that its close to its 200 day moving average and for a huge company like Glaxo Wall Street can come in and buy for that 5% dividend ... Value Hunters will be sniffing if GSK can hold that 200 SMA support line (in my opinion)
Resistance Line (What Wall Street considers its Top of the Chart near term movement)
CPT - because were not trading higher this is not testing resistance lines ... so this indicator is not a factor in my decision whether I make a purchase in GSK right now. I would click the link to see where it is trading just for reference :)				See Support-GSK
Keltner Channel Breakdown
KC - The stock is trading UNDER the KC MID line which presents more of a 'Low Entry' purchase and now is the time for me to start watching the stock. I like buying for value UNDER the MID line.
CPT - WAY WAY below the KC MID ... its right where I like buying them IF, IF I were to buy this
On Balance Volume or buying momentum ... is it trending Up?
OBV - The 'On Balance Volume' trend line is UP which tells technical traders that the stock has good momentum or in straight talk, people are BUYING IT. This is a 'Green' check mark for me.
CPT - Was UP TRENDING which is good but now who the heck knows ... I'm watching support at the 200 moving average ... if the stock can hold that it might be a situation where you have no buyers, but no sellers either and market makers will move the price up ... in my opinion
Further research with - Using charts for technical analysis, Dividend information and Earnings Report Date
RSI, SUPPORT LINES		KELTNER, OBV
View Chart-GSK		View Chart-GSK
Definition of the various charting indicators I use
RSI - The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. Source - https://www.investopedia.com/terms/r/rsi.asp
SMA (100/200) - A simple moving average (SMA) is an arithmetic moving average calculated by adding recent closing prices and then dividing that by the number of time periods in the calculation average. ... Short-term averages respond quickly to changes in the price of the underlying, while long-term averages are slow to react. Source - https://www.investopedia.com/terms/s/sma.asp
KC - The Keltner Channel is a moving average band indicator whose upper and lower bands adapt to changes in volatility by using the average true range. The Keltner Channel is used to signal possible price breakouts, show trend, and give overbought and oversold readings. Source - https://www.investopedia.com/terms/k/keltnerchannel.asp
OBV - On-balance volume (OBV) is a technical trading momentum indicator that uses volume flow to predict changes in stock price. ... He believed that when volume increases sharply without a significant change in the stock's price, the price will eventually jump upward or fall downward. Source - https://www.investopedia.com/terms/o/onbalancevolume.asp
Disclaimer - No - at the time of this posting I do not have a position in this equity. I will not take a position in this equity for 3 days of this equity as to not front run for this equity.
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