GKP

Hi all,

my feeling is that 169-171 is still a strong probability especially with the CC running on for more than two more months. I see the long term support trendline from 2009 currently in the 160 area as a potential bottom though. 140 is always hanging out there but unlikely IMO without severe general market weakness.

In terms of short term trades, 181/182 is likely to provide a good bounce being a multiple support area including 61.8% fib of last move. The sp has a settled bottom the past week or so at 187/188 so I think with no sustained move higher, this is likely to break in the near term giving way to 181/182.

So, in summary; trade at 181/182 and invest at 160/161.

F4T

SRB,

Like XEL, I'm looking for an optimum "investment posistion in gkp"...for now I only see a small bounce at fib 50 and whilst most (approx 54%) off bull flags will break to the upside, however I'm not sure if I'm chart fitting with that one, just think 186/187 is a number that often gets played with gkp...for me I see 216 or 227 upside, but if we see 185 then I see a re-test of 171... there is also that 203 pivot area.....just highlighting 187 likely to be a trading opportunity with tight stops......like many shares recently I'm now looking longer term and accumulating when good shares with growth prospects are retracing to good entry points.....I said that about 171 before and missed the move...you guessed it by a penny!...for now it looks like the old enter at 20 and exit at 50 with any bounce likely to be capped at 200.....you can't have it all ways I know, but just highlighting areas where I feel are likely to be pivotal...you are certainly correct about 30p ranges but for now I think we see a small bounce and then retrace....you can see bull and bear arguments, but patience has been my big learning the year and IF we see 141-145 then I'll be taking a stake, other areas would be for trading (but 171 may be the number?..who know's!....I'm just a self taught chancer/spreculator chancer gambler!)..personally I'm looking at the possible wedge pattern with 50 day resistance taking this to 171 or maybe even 141...of course it could breakout before then and head for 260.....nobody ever knows with gkp!!

Tradesmarter, thanks for the chart could you confirm the target area please should the flag break to the upside. The pole is approx 30 points so is the target 30 plus breakpoint or 30 plus 203 top of pole.

Many thanks

186/187 was a number that used to crop up on gkp and for now looks like a trading area e.g recent fib 50

Chart from a far - human investor psychology perspective....

a lesson in there to take away.....

dl.dropbox.com/u/40497882/GKP_Physcology_Daily.JPG

I must admit, I got confused by your chart REMO and wondered about what Pj has so eloquently stated...bum about face? .