PSX: GLAXO HAS IT HIT THE BOTTOM ROCK.
The Script has been striving to find the solid ground to lay the foundation of it north bound journey. These efforts started with the start of 2023. This consolidation period seems to be completed soon because on daily RSI chart the script has successfully found the support at RSI 50 after getting price rejection at Rs.82.
On weekly charts the the RSI has been showing bullish divergence frequently since the beginning of this year.
Since the volumes and price bar has positive outlook we can take immediate position and the Dow followers can wait to crossover the Rs.85.90 price level.
Potential TPs are at resistance levels.
On weekly charts the the RSI has been showing bullish divergence frequently since the beginning of this year.
Since the volumes and price bar has positive outlook we can take immediate position and the Dow followers can wait to crossover the Rs.85.90 price level.
Potential TPs are at resistance levels.
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