GKP - Research

Possible 123 low forming.
The level to watch is 203.5
If this can finish above that level then that would be the first higher high since sept.




DYOR

To my mind everything now points to major support trendline (magenta)at 160 before a move north into the new year. Last weeks rise was all hot air IMO.

Chart from 26/11
uk.advfn.com/p.php?pid=chartscreenshotsh...Rv132&symbol=L%5EGKP

F4T

dl.dropbox.com/u/24866576/November%20201...OM%20271112%204H.gif

The pink trendline is from the 450 feb high to the recent Sept high.

Bearing in mind the spread:

+203 - buy
180 Gamblers entry?
170 pile in with tight stop?

Thoughts welcome.

M.

Would like to have seen the break with more volume as witnessed earlier in the week with the break of the medium term trendline.

This is the 4H with the pink trendline set at the 450 high and 258 high of Sept:



dl.dropbox.com/u/24866576/November%20201...31112%20cv%2060M.gif

I've drawn the line a few times with similar results. With Updata the line snaps to the second point you mark so pretty happy with how it's drawn and it looks like a break on the lower timeframes. That said I wouldn't be buying in at these levels, rather wait for a convincing break on the daily (which isn't currently showing) and certainly not before the highs of Wednesday (203.5).

Position wise I'm still carrying my core holding and some I picked up earlier in the week.

Make the most of the weekend,
M.

I’m surprised being GKP, how nobody else has picked this up.

Or am I wrong?

Seems GKP has broken the weekly downtrend.

Weekly
dl.dropbox.com/u/21384991/Gulf%20Keyston...2023.11%28DFB%29.png

Close up
dl.dropbox.com/u/21384991/Gulf%20Keyston...2.23.11%28DFB%29.png

Needs that all important close!!

Seems like its breaking its RSI downtrend line?

dl.dropbox.com/u/21384991/Gulf%20Keyston...1.11.12%28DFB%29.png

Got some strong resistance around £2 though.

50 ema 196.93
Downtrend 200
38.2% fib 203.98
As well as round number syndrome. 200

Got start today though.