GLAXO has given a nice and clean breakout in weekly chart. This is significant since this pattern has been evolving since around 2015 and this resistance has been in force since last almost 8 years now. Remember that the longer the pattern, larger the move typically.
In terms of size, the up move could be around 95% from the breakout line, as per the height of C&H pattern. I would expect a minimum move towards 2750-3000 zone.
Today is Thursday so it might be prudent to wait for the weekly close tomorrow and revisit the candle structure to ensure it still had a bullish formation and no significant selling comes on Friday.
Disclaimer: This post is for education purpose only. Do your own due diligence for buy/sell decisions.
