GKP - Research

since everyones looking at a short term chart i thought id put up a long term chart. This is a monthly chart. Yes monthly..
I never new GKP were trading since 2004. I always presumed it traded around the 10p mark .... I wonder how many people new this??????

It's quite laughable to hear so many flapping about what is not even a channel. Even the so called trend lines are totally invalid. Why oh why would anybody pay attention to something of no value?

Thanks guys - here's my pitch fork channel - before you can even think abt 10p there is lot of support @ all red lines... most have been talked abt already. it will take some considerable bad news for that to happen for sure....

dam talk abt trying to channel fear....

dl.dropboxusercontent.com/u/40497882/GKP%20Channel.JPG

To be fair, much of what he's written there is correct. We've all been discussing some quite bearish downside possibilities on here for a few days (old Zak is always a few days behind the game), including the gap at 31.25p IIRC.

There's only really one catalyst which could bring 10p back again (and there IS a gap at 13 I think) and that's a cancellation of the PSC by Baghdad. Possible? Certainly judging by their past performance. Likely? Not for me. Money and Big Oil normally controls governments not the other way round.

In any event, there are no buy signals as yet (unless you count the bullish RSI divergence on the hourly) and we all know what the sensible plan is: wait for a higher low and buy the breakout. Until then it's a sell at 161p or on a break of 131p for me. Simple.

PS Let's not forget that Zak has leapt into the limelight in recent months and a mention of a possible 10p target for the "punter's" favourite is sure to grab him some more publicity and we all know what the saying is there. Good for his subscriptions I'm sure!

WS

www.screencast.com/t/rOctO1Sbl

10p lol - what channel - can some body copy that chart and paste it here please.... cheers