GKP - Research

Well... not too sure what to make of today. That was extremely bullish to break through resistances and SMAs... didn't see that coming at all. I was quite happily following the TA on this one up until today... it all made sense. Now, I'm a little lost again. Can't see the reason for this rise and can't work out whether we're more likely to see a further rise or retrace tomorrow.

Anyone able to provide any clarity?

Last minor swing high

What's the significance of 89p?

Cheers
Woody

RSI usually leads a breakout, but if you are right, this would be the second time that SP has lead and RSI failed. Unusual. I also use the sma's, which as you say are proving stern resistance.

SP has nowhere to go but up or down as falling wedge is now broken. A close above 89 would signal continuation for the bulls and a close below 80 will give the bears the upper hand.

The share lacks any firm direction over the past 2 weeks and this may continue with a downside bias IMO.

F4T

This has had a good rise and looks to have broken a short term trendline, normally quite bullish, however the RSI, is again at resistance, and those moving averages, seem to acting like the great wall of China
Seems like a bull trap IMHO.

This is coming straight back down IMHO, but would be happy to be wrong and see it continue upwards.

This is the link.

uk.advfn.com/p.php?pid=chartscreenshotsh...WWPEK4=&symbol=L^GKP

Regards,
Trendfriend.

uk.advfn.com/p.php?pid=chartscreenshotsh...QaVg5dPMuuZcnfMrw%3D

RSI resistance held the other day. Now in a very tight corner!