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Actionable news in GSK: GLAXOSMITHKLINE PLC,

GlaxoSmithKline (GSK) Stock Prepares to Rally, Shares Could Advance 25%

NEW YORK (TheStreet) -- GlaxoSmithKline (GSK - Get Report) topped out in February, March, and April, but it has since put in a tradable low that can support a respectable rally that could carry into early 2016.

We have a number of positive chart signals for GSK in the chart above. Prices have rallied above and retested the 50-day simple Moving Average (MA). The 50-day average has begun to flatten and could soon rise signaling a belated--belated because moving averages follow the trend with a lag--uptrend. The downtrend from the March high has been broken, and we can see a bullish divergence in August and September between prices making lower lows and the momentum study making a higher low. The On-Balance-Volume (OBV) line on this time frame has not yet turned up.

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This three-year weekly chart of GSK, above, is more positive. Prices have rallied to the underside of the 40-week MA and could soon close above it. The OBV line on this time frame has turned up nicely, confirming the price advance. Lastly, there is a bullish divergence...


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