GKP - Research

Personally id avoid any new longs as GKP has broken its main uptrend line. Or at least wait for a 123 low to form.
This hit my target of 136 which was the channel target.
The fact that its breaking all supports with relative ease means weakness. This could head back towards 120 area or lower if it finishes below 139.
supports....139,,,136(channel target)130(psychological from the past) ,,,119,,,,87,,,64,,,,,52.75(gap)
resistance...151.84,,

This needs to stay above 139 today....
Waiting for a 123 low to form is probably the sensible thing to do. GKP needs to break the lower lows for the green light to enter. Yes it means that you wont enter at the lowest price possible but at least you enter when the trend could be about to change back in your favor.
Right now this is a day traders share so entries should be for quick trades.

dl.dropboxusercontent.com/u/4899609/gkp25thapril.png
currently hammer forming but the day is young.
dyor
remo

Looks like the PI's are having their annual panic. Lottery numbers still rolling.......

Tejassi,

hmmmm. If you are using TA and planning your trades then nerves should not play a part. Actions should be premeditated and automatic. Perhaps you are over committed in GKP? If so, I suggest you reduce your holding. There are plenty of other stocks out there to make money on. Large positions leaves one over exposed, makes one jittery and also tempt the trader to take profits too early.

The time to sell GKP was in the mid 160's when it was clear that support would not be repaired. A sell trigger was needed as the quick retrace was then certain.

If emotions are not involved it is much easier to see the trees in the wood.

F4T

PS: Well done diver993, I see that one of your seven lottery numbers came in

Thanks all for your replies

F4T askedHi Tejassi,
I'd like to understand your thinking when selling at 147.50?
- Answer F4T - I am Just nervous
Sold some the day before and bought back lower, then today big drop seems to show it could go lower so sold some more again then bought back at a very small gain this time. As you said it's a lottery. Don't like May or that unmentionable person! I lost a lot of advantage last year by selling at the lowest point before it went totally ballistic, don't want to be too out because it could happen again. yes I know I am too attached
But can only move(trade) in small windows of available time Because I am at work

I am with Iweb and find it unreliable went setting orders
Regards Tej

Fib extension 'B W X' - yellowish - = 129.51
Fib extension 'X A B' - greenish - = 146.14 About spot on close today.
RSI is bottoming out - maybe one more day??
StochRsi also showing a buy at '0'
Support at 'A' 139.25.
For me, buy on re-test of 161.00

Please excuse the 'ish' with reference to the colours: I'm as colour-blind as you can get

Where too now?
Trend line channel at 129, Fib retracement expansion at 150% is on 129



Fib extension from 259-161 and aligned at 228, equal legs at 129



Daily P&F targets activated at 127



If GKP finishes below 143 then last bullish daily target will be removed..... proper rubbish!

Best wishes all

ft