GlaxoSmithKline Plc: Investors maintain cautious posture as sell-down looms


Thursday, July 11, 2013 11:54 PM / TheAnalyst


Today, GlaxoSmithKline Plc sustained its flat position, indicating an indecision posture of both the investors and shareholders towards the stock after the steep decline of -10.00% recorded recently.

The market outlook in the last one week reveals a continued moderate sell-down tendency towards the stock, leading it to experience a -10% price fall with a corresponding moderate bearish volume, erasing the +8.00% gain recorded in the previous week.


Further analysis would suggest possible active profit-taking towards the stock anytime soon - a possibly strong price correction appears to loom as the price had rallied significantly by +50.78% so far in the year, hitting is Year-High at N68.00 on June 12th 2013.


The technical indicator(MACD) reveals low bargain tendency towards the stock while it closed neutral in short term but maintained bullish posture in mid-long term period as revealed by its price moving averages at the end of today's session. This further indicates in-coming bearish sentiments towards the stock.


To buttress this further, we observed a sharp decline in price momentum with similar pattern in money flow index while volume analysis reveals sustained sell-down as volume traded appeared weak; below its 15days moving average.


However, the price performance analysis revealed the stock to have experienced low price volatility, trading within the range of N68.00kobo (Year-High) and N45.10kobo (Year-low) while it 52weeks price performance stood at +161.04% with YTD gain of +33.70%. Today, GlaxoSmithKline Nigeria PLC traded at N60.30, indicating -12.77% below its 52-week high of N68.00kobo, recorded on Jun 12th, 2013.


Latest news about GlaxoSmithKline, stocks and others:

1.    GlaxoSmithKline executives in China 'confess to bribery and tax violations'

2.    GLAXOSMITHKLINE CONSUMER NIG. PLC - Investors ... - Proshare

3.    GlaxoSmithKline Consumer Nig. Plc declares N1.30 ... - Proshare

DISCLAIMER - This is produced by the technical team of Proshare Nigeria Ltd, and it does not in any way suggest buy recommendation, and we receive no compensation or promotional fees whatsoever from the companies we cover in this list/service.  It’s only meant to throw more insight into your trades. You are expected to know that investing into stocks is risky, particularly without proper due diligence. It is your responsibility to take this into consideration and any use, dissemination, distribution, or reproduction of this webpost by unintended recipients is not authorized and may be unlawful. Proshare Nigeria Limited accepts no liability whatsoever for any loss, direct, indirect or consequential, arising from information made available and actions resulting there from. For further information, send an e-mail to

Related News