GKP

Not sure how a dividend payments work for technicals....
The 20+p drop pushing it down main support lines!!!

Hi guys
Sorry couldn't reply last two days bit busy with other things...
The reason for my previous question to TF is, I saw a weakness in momentum around 220-235 region and I was feeling this may go down than up...
So I was hesitant to buy.
Oil prices also went down due to recession fears ....
Then TF today's fall is due to 20p special dividends.....
So this clearly puts it below 200dma and long term trendline....
My view is it's 190s then lower ..
Typing from mobile, so will try to do more details later on....
Thanks G

Hi Guys...
Any idea why this has dropped so much today?

Was looking to buy...but as things stand a couple of significant technical events at the open today.

gkp - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...UpnxqPPjIiWQ1BfFI%3D
gap below the 200 day ema line.

gkp - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...skRkasuGm/Bj88ykj2c=
gap below the long term main support line.

Lets see if it finish's below the trendline today...but those support levels getting breached on the same day could well be a sign of a possible trend change after a prolonged bull run for the stock.

Lets see how it ends the day and the week and reassess this again.

atb, wdik, dyor,
trendfriend

As I typed earlier, I gave you no advice other than only you can confirm a strategy and act on it or not.

Perhaps your question was not phrased in the way that perhaps you thought it was, perceptions can alter the reply you expected.

What would be better may have been to outline your rationale for any entry or strategy to add and then the Chartsview community could review the rationale without any prejudice (e.g. emotion, previous entry or desire to average down)

For my strategy

Daily Timeframes:
First Support from the recent high, I had at 286p (which was the 20 D SMA -which it breached) so I kept my cash and watched.
The next level was 260p (the 50 D SMA) and then 251p (a 23.6% FIB retracement)
The price bounced and ultimately breached, so I kept my cash.

Weekly / Monthly Timeframes:
I changed the timeframe chart, to the weekly and monthly and seen that 242p was a 23.6% FIB retracement, so I marked that on my chart (only end of day) and watched daily.
This support held twice so at 240p I added to my original positions from way back in 2009 (11.25p) Although there was a better entry 235p which was 20 SMA on the Weekly, which the price spiked down and bounced back up to 252p
Will hold for DIVI’s and see where we go from here, although the Ichimoku cloud is looking bearish of late, but hey that was my strategy and I acted on it, could have picked up stock cheaper than the 240p but I work and can’t time entries that well, so I added as an average down exercise as with all Long term holders, the bond restructure and dilution heavily affected my original holding.

I can't trade as I don't have the skill or reflexes on a working day so I add when I see an opportunity which makes sense to me.

AdeMcG wrote: With the greatest respect, no one other than yourself can answer your question.

IF you have a plan, then execute and stick with it, if not, you ought not to be risking capital.

I wasn't asking about any strategy there,not sure why you thought like that.
I only was checking/requesting chartwise.. if it still be holding the trendline, nothing more!!!
Would have been better if you had any comments on charts than giving unwanted advice

With the greatest respect, no one other than yourself can answer your question.

IF you have a plan, then execute and stick with it, if not, you ought not to be risking capital.