GLAXO-1H (PSX) – Bullish Reversal; Targeting: 435 - 475📊 GLAXO-1H (PSX) – Short-Term Analysis; Targeting: 435 - 475
CMP: 410
GlaxoSmithKline Pakistan Limited (GLAXO) is currently trading within a critical Golden Pocket Zone, between the 50% and 61.8% Fibonacci retracement levels, around 423.69 to 411.50. This zone often acts as a strong support area where price reversals are highly probable. The Stochastic RSI is deeply oversold, indicating that selling pressure may be exhausting and a potential bounce could be near. Price action is stabilizing around 410, suggesting short-term support. As long as GLAXO holds above 410, there is a good chance for a rebound toward 423–425 initially, and further upside toward 435–445 & 461 - 475 if momentum builds . However, a breakdown below 400 would weaken the bullish setup and open room for more downside. Cautious optimism is advised while monitoring for confirmation signals above 415.
