Due to the bearish trend, the target price is fixed at GBp 1350 for GlaxoSmithKline.

From a fundamental viewpoint, the group is in a bad financial situation. For one year, analysts have downgraded their forecasts for earnings per share. This indicator is often a precursor of a declining profitability and a worsening climate of investors' confidence.

Technically, the share is in a downward trend. The moving averages are decreasing and are still above prices, thereby stopping any rebounds. The security is going toward the GBp 1414.5 support, a level that will represent an entry point when broke-down.

Taking into account fundamental and technical elements, investors can initiate a short position below GBp 1414.5 with the GBp 1350 as a target. A return towards GBp 1450, will invalidate the bearish strategy, which justifies a stop loss.