GKP

SE,
Look at that part of Remo's chart that dates back between 2004 and July 07 - 43 is the line off which the SP bounced several times during that period of time. Historic I know, but I'm pretty sure that's where the 43 support comes from.
Cheers,
Mike

Sorry to be dense Remo but could I ask why there is strong support at 43...

Hi mark
yep spot on mate..
The level with the strong support is 43
ive shown a monthly chart to see it better..


dl.dropboxusercontent.com/u/4899609/gkp13thoct2014a.png

Hi Remo,
I have a support line at 46.15p from 2005 which seems to be holding at the moment. Could you please check with your charts as I am using Prorealtime.

Thanks,

Mark

GKP has to finish above 54 before you can say the worst is over. Even then its not guaranteed.
If 54 is respected ,ie,, holds as resistance then further falls will come. So first the share price must break above 54 and finish the day above it.Even then you dont buy it as you need higher highs first to signal a change in the trend early.Basically a 123 low .
short termers can still trade this share . Long termers not yet.
currently bullish engulfing pattern on gkp but this has to come at support so not the real deal for me.


dl.dropboxusercontent.com/u/4899609/gkp13thoct2014.png

As to a bottom, it's far too early to call. Let's see where we end up with on volume and price. Volume promising so far.

First resistance is more likely to be 54.25 but if we were wanting to catch a decent rise as it withers, I have a trendline in the 59 area. 54.25 is safer though. However high the bounce is today IMO we will definitely see 50/low 50's again, so it makes for good trading.