GKP - Research

Hi Jackozy,

No you weren't patronizing in at all, constructive criticism.

I have paid for a premium account as you suggested and will at some point sell GKP at a break even or small loss.

I have placed a stop loss at 98p this is likely to get taken out tomorrow looking at my amateur chart. Do you think the gap won't get filled? The MACD is turning positive and the RSI is still oversold. Technically this must count for something?

[IMG] imageshack.com/a/img23/5747/gq19.jpg [IMG]

Hi Jacko.. would be grateful for your view on this "drop from 450 " . Is this the completion of wave 2 of the EWT ? and that you expect a primary wave 3 to start sometime soon and go higher than 450 ? i remember you had mentioned ~ 700p some stage.. is that number still valid from EWT perspective or has it been negated due to the huge fall in the sp. thanks a lot.

Hi MtM,

You're welcome and I apologise if I was patronising in any way - certainly wasn't my intention.

Your stop just below 100p makes sense from a risk averse point of view due to Friday's and Monday's lows (and yesterday's inside bar) but there's a fair chance you could get taken out in the formation of a higher low. Better to have stops below 86p but that depends on your positions size and attitude to risk.

Given that inside bar, the key short term levels are 100p and 110p though trading breaks of those levels ought to be treated on a short term basis. There is no buy signal on this stock at current levels (and I suspect it has some time yet to go before there will be one).

Resistances: 120p, 127p, 134p (Fib), 138/44p (gap).

Supports: 86p, 64p (I don't think we want to consider lower do we?)

I do think this is either at the end of, or near the end of, the big drop from 450p but that's based on my interpretation of the waves. Technically it's really not in a good way at all imho.

PS I did used to post on III under this name but never on those BBs.

Thank you jackozy for the advise.

I kind of went in head first with GKP getting a feel for things but yeah my buy in was at a bad point and I was unsure where to place my stop thought about 99p just below 100p. I could do with learning where to place my stop so will do some research.

I seem to remember a Jackozy from the either KAZ or XTA iii board, did you use to knock around there?

you should see the chartsview user name and not facebook.
unless there is a bug im not aware off..

manfrombrussels wrote: Thanks for the responses guys.

(off topic, I notice the live chat 'who's online', looks intriguing. If I log on with google or facebook you'll see the real me or my chartsview username? )

Thanks for the responses guys.

I can sum up my position re all this by saying, 'I pick well, but trade badly' so obviously I have belief in fundamentals but also in TA.

GKP is an odd one for me to comment on as percentage wise I am a long way up, having picked it up a long time ago on its fundamentals. However, had I had using a decent trading strategy backed by TA I would be a lot further ahead.

Maybe fundamentals come more into play when buying exploration stocks than companies like Kingfisher.

Interesting subject.

(off topic, I notice the live chat 'who's online', looks intriguing. If I log on with google or facebook you'll see the real me or my chartsview username? )