GKP - Research

Just my 2cents.




Looking at a 12-month view (on the daily), there's a nice (down) "trend-line", confirmed by at least a dozen or so points.

I honestly don't know what to make of it, but would point out the following:

1. 226 or thereabouts looks like a key resistance area (mid-term), and this was visible on at least 2 previous occasions until it was finally confirmed by the HEAVY sell-off in Oct-2012.

2. I drew a line around the 150 mark simply to highlight how many red-candles were "taken out" but the upward surge. Clearly not that many in the grand scheme.

My conclusion? further downside to come until 160 is convincingly taken out.

Yes, I'm aware that my fellow CV patrons have pointed this number out already! Nice to find a consensus no?

I'm holder, and this is a highly sensitive and speculative share, but there's no medium term up-trend as far as I can see (happy to be corrected!).

Good luck all.

response to J's post

dl.dropboxusercontent.com/u/40497882/GKP_30min_16may.JPG

u maybe ok... 30min inside bar, needs to confirm.... next 1hour will be telling..

rgds WS

Jackozy wrote: Well, I've closed my little short at 141 in case of a bounce off the 139-141 area as discussed. I've also added a small long back in. Not quite sure how it's looking as I'm out and about. Will have a look later on but that was a pretty strong rejection of the 160 level so wave 5 down would be my favorite option still. Depends what happens at this crucial area now imho.

Jackozy wrote: Remo, I think you've forgotten to re-draw your top channel line after the move to 189.375p on the 9th April. My channel top is at 171.5p today, not 167.8:

dl.dropboxusercontent.com/u/20815047/GKPdaily16_05_13.gif

silly me
ive got so many charts on the go keep forgetting to redraw trend lines....dohhhh
thanks mate for letting me know...

Well, I've closed my little short at 141 in case of a bounce off the 139-141 area as discussed. I've also added a small long back in. Not quite sure how it's looking as I'm out and about. Will have a look later on but that was a pretty strong rejection of the 160 level so wave 5 down would be my favorite option still. Depends what happens at this crucial area now imho.

if 137 does not hold then......

dl.dropboxusercontent.com/u/40497882/gkp_HnS_16thmay.JPG





also came @ resistance....