Chart Patterns & Algorithmic Trader (Aug. 24, '20) (44)
GSK Rectangle Channel Pattern
s
Reviewed in CPAT
GlaxoSmithKline PLC ADR (GSK) is trading in a rectangle chart pattern on its
daily chart between upper trendline $42.40 lower trendline $39.62. A long
trade may be entered if price breaks above the upper trendline with a stop
below the mid-channel level $41.01 and vice-versa. Breakout targets are:
$43.8 to $45.2. Breakdown targets are: $38.2 to $36.8.
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