GlaxoSmithKline's Shares Changing Hands at Higher Prices on 1.1x Above-Average Volume (GSK)

Shares of GlaxoSmithKline (NYSE: GSK) are trading up 3.6% to $38.74 today on above average volume. Approximately 2.1 million shares have traded hands today vs. average 30-day volume of 1.8 million shares.

Spikes in volume can validate a breakout or signify a potential turning point. As such, SmarTrend will continue to monitor shares of GSK to see if this bullish momentum will continue.

SmarTrend is bullish on shares of GlaxoSmithKline and our subscribers were alerted to buy on July 14, 2010 at $36.15. The stock has risen 7.2% since the alert was issued.

Write to Chip Brian at cbrian@tradethetrend.com

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