GKP

Well, it has been more than a week since my last analysis and I am pleased that my call to buy at 189 was validated by this weeks rise. I sold this position at 200 because of weak volume.

61.8% fib was pierced but held giving a bounce with added momentum as traders bought into the golden cross(would have been stroonger had the MA200 not been falling). Rise also produced a breakout from the falling wedge and MACD turned positive.

SP now needs to close above 202 to move higher IMO.

On the negative side volume did not confirm the move, the longer term MA's are acting as resistance and Friday's candle looks bearish (note that there is an error in ADVFN's charting - Thursdays candle closed at ~198, not 202). I also note the yellow shadow line on the wicks.

The chart is more bullish than bearish but I am back on the fence. It is the lack of volume more than anything that concerns me.

A retest of the upper blue trendline to the low 190's (possibly to the new red trendline)would give me confidence before a move higher but volume is key in any move. We are still stuck within the main MA's and this still suggests a big move is likely.

A further threat to 182 looks unlikely in the short term but I live in hope I would also be interested to hear Jackozy's wave therapy on this.

uk.advfn.com/p.php?pid=chartscreenshotsh...dR8Dh&symbol=A%5EAPT

F4T

Trying to hide from me over here eh?
Would you be so kind as to cast your eye over my feeble attempts, learning slowly but having problems at end of last correction.
Thoughts on start of new wave 3? also.

GKP is in a clear channel. If this breaks out of the channel then you could expect a 22 point move in which ever direction this breaks out in. Im favoring a move up due to the 61.8 fib level holding nicely.
So the level to watch for today is 202 . This needs to finish above that level to start the next leg up.
For down side for today the price has to finish below 180.
This is moving nicely recently.


dl.dropbox.com/u/4899609/gkp7thmarch.png

Long @ 196 with a SL below 182
Sorry no chart as at work

The gap at the start of January looks tasty on that 2hr chart!

still think 187 will go after hammer on fri?