Will GlaxoSmithKline break resistance, or will it rise back to 1593p?

• 1515-1593p narrowing range; Now 1534p (at time of writing)
• Will the pattern repeat itself, rising back to 1593p?
• Shares -4.7% from 2019 highs; +7.3% from 2019 lows; +2.9% year-to-date
• 4 Jun: European Medicines Agency’s issues positive opinion on Nucala
• Source: Dow Jones, Bloomberg, FT, Company News, AlphaTerminal

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Trading GlaxoSmithKline – An Example

Let’s say you like the GlaxoSmithKline range, you think it’s heading back up to 1593p again. You decide to buy exposure to £10,000 worth of GlaxoSmithKline using a CFD, at the current price of 1534p. To do this, you need £2,000.

Let’s assume GlaxoSmithKline rises back to 1593p (+3.8%). Your profit would be £380, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 2% from the current price. GlaxoSmithKline falls 2% and hits your stop-loss. Your loss would be £200.

This is provided for information purposes only. It should not be taken as a recommendation.