Sunday, February 04, 2007

GSK -Volumes picking up



GSK is seeing some positive movement in its share price over the past five trading sessions. A stock that has not been participated in this rally, the stock has been seeing some volume being built last week.
  • There is a small 'buy' signal indicated from MACD. RSI, though is one the higher side - approximately 60s.
  • The stock is just above its 200 day moving average.
  • The most interesting for this stock is in the Accumulation Distribution chart. This is the longest upward that the stock has seen in sometime. The previous instances has not seen more than 2 trading sessions with strong volumes before falling
I would wait a bit more if I am a cautious investor as I would like to see if investors are using the stock to move out of this stock or not. Targets on the upper side would be at Rs. 1250 and the downside could be at Rs. 1100.

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