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GKP
12 years 7 months ago - 12 years 7 months ago #7212
by AdeMcG
make me twitch a little...keeps stubbornly bumping at the 166, 167p level 
Waiting for my money to transfer to another account and being out of it makes me sweat a little 
Waiting for my money to transfer to another account and being out of it makes me sweat a little
Last edit: 12 years 7 months ago by AdeMcG.
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12 years 7 months ago - 12 years 7 months ago #7193
by Food4Thought
Replied by Food4Thought on topic GKP
Evening All,
uk.advfn.com/p.php?pid=chartscreenshotsh...0GMw=&symbol=L%5EGKP
I have been using my crystal ball to create a couple of scenarios using our descending trend channel to illustrate the downside possibilities of 87p and an upside option of 250 or more (?).
Essentially this vision sees a retrace from the recent 180 high to the 138.50 level support (at AGM date?), which is my preferred option currently. We then see a bounce to 166 being our recent favourite and the downtrend resistance which could conceivable coincide with the CC result). A favourable breakout here would take us to 250 (option B ), which is my subjective 100% valuation of GKP (I won't bore you all with detail). Unfavourable news might push the SP as low as 87 (option A)
The fact that Monday's retrace pierced the 61.8% level of the 129 move being 155 IMO indicated that the SP was unlikely to make a higher high on the next rally (i.e. would not break 80p). Sure enough it stalled at the 61.8% retrace level of the move down, being ~169. I expect that to be a peak and a lower low to form below 151.25. 138.50 is support from here and fits nicely into my fairy tale. A gap down at open tomorrow might confirm this possibility.
Note that the next move up to 166 resistance could form the right shoulder of a H&S where my red support line becomes the neckline. A break here (forecast at ~142 ) could send us to 87p.
All conjecture and neat and tidy, but I do see us at 138-140 in the next week or so. Let's see what tomorrow brings.
uk.advfn.com/p.php?pid=chartscreenshotsh...0GMw=&symbol=L%5EGKP
I have been using my crystal ball to create a couple of scenarios using our descending trend channel to illustrate the downside possibilities of 87p and an upside option of 250 or more (?).
Essentially this vision sees a retrace from the recent 180 high to the 138.50 level support (at AGM date?), which is my preferred option currently. We then see a bounce to 166 being our recent favourite and the downtrend resistance which could conceivable coincide with the CC result). A favourable breakout here would take us to 250 (option B ), which is my subjective 100% valuation of GKP (I won't bore you all with detail). Unfavourable news might push the SP as low as 87 (option A)
The fact that Monday's retrace pierced the 61.8% level of the 129 move being 155 IMO indicated that the SP was unlikely to make a higher high on the next rally (i.e. would not break 80p). Sure enough it stalled at the 61.8% retrace level of the move down, being ~169. I expect that to be a peak and a lower low to form below 151.25. 138.50 is support from here and fits nicely into my fairy tale. A gap down at open tomorrow might confirm this possibility.
Note that the next move up to 166 resistance could form the right shoulder of a H&S where my red support line becomes the neckline. A break here (forecast at ~142 ) could send us to 87p.
All conjecture and neat and tidy, but I do see us at 138-140 in the next week or so. Let's see what tomorrow brings.
Last edit: 12 years 7 months ago by Food4Thought.
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12 years 7 months ago #7183
by diver993
Hmmm.... the point being, I had this as an impulse wave, which it now cannot be as the wave 4 would overlap wave 1. At no time did I mean to infer I had changed from bull to bear: its just an ABC rather than a 12345 
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