GKP

I didn't want to leave this without re-checking the higher time frames.

Monthly:
uk.advfn.com/p.php?pid=chartscreenshotsh...Pc%3D&symbol=A%5EAPT

At resistance but RSI has broken out, so from a monthly perspective it looks like the downtrend is coming to an end, but hasn't acted yet. RSI generally leads price. It does re-confirm to me that the bottom is in, which I posted earlier. Monthly trumps weekly and daily so actually, this tells me all will be good in time.

Weekly:
uk.advfn.com/p.php?pid=chartscreenshotsh...zI%3D&symbol=A%5EAPT

For me, the weekly has been the most reliable over past months.
Like the daily, SP touched resistance this week and retreated. RSI is pretty much at resistance now.

Overall summary based on TA is that we are at a major crossroads but balance is positive. Falling wedges have a bullish bias.

I think it will, but this is GKP. The wide and frequent/excessive swings/hype is what we love about it.

TA aside, IMO it is overvalued at 80p and my ceiling is still 89/90. CPR was 68p and that was with 100+ oil and pre IS prominence. Would be interesting to see their economic model now. This is what the City/analysts will have in front of them. Being paid is good and probably worth a nice rise but we've had that. It doesn't change the mess the company is in.

From a TA perspective, my charts say we are still in a downtrend. Could very well break through and I hope for holders that it does, but the SP was making my nose bleed at 85. I'd be careful as human emotion always tells you to buy at the top and sell at the bottom when the reverse is rational.

Just my view.
GL
F4T

Hi F4T

Are you still of the opinion that this should drift back down? Will you be taking a position if it goes any higher?

I would hate to spoil the party but, but....errr..not quite

uk.advfn.com/p.php?pid=chartscreenshotsh...M274=&symbol=A%5EAPT

Tomorrow maybe
F4T

redchilly

Yep, yep, yep, yep snap.




screencast.com/t/WGQKO5LZhfl

P.S what the heck is that hosting site you're using, full of junk and ads

GKP is in Uptrend for me

3 HH and HL on daily
Backtest of rising TL today
Todays candle making a HH & HL

tinypic.com/r/2ltimat/8

TL break & close above on weekly
Rising trend on the weekly

tinypic.com/r/16gact5/8

Long today on break of 76.75
SL below yesterdays candle and rising trendline - below 65.50

Target
1. 89.75 previous high
2. 116.75