GKP

Hi Guys, First post here however been a sniper for quite some time.

Jacko, Looks like the largest red candle seen since the drop from 360. Remo was right to point out NOT to go long should we get to 87p again surprised how easy it dropped through it though. What's peeps views of 64 holding or is it more realistic that the gap close by at 52.75 will be the obvious target?

Also, thanks to demo and ronnie for some premium tips, My RBS and IMG are doing ok. Now looking to take profit Mmmmm?

nerone
aka mrg

This may sound like a silly question, when do you declare support broken?

Say 87p, is it the minute the price falls below that point? is it when it closes a day below that point? It's around 84.5p right now, if it rose from here back to 90p today and closed at 91p, would you still say 87p was broken, or would it be a test of the support and found to be supported?

Also, please bear in mind that these supports that have failed are now resistances so barring a major news event (T/O) there are some strong ceilings above the current sp, most notably the 141p area which has been pivotal throughout and was also the area of the high volume gap down recently.

Here's a rarely posted monthly view of GKP:



dl.dropboxusercontent.com/u/20815047/FTS...Pmonthly31_03_14.png

See the power of a main uptrend support break?

87p has failed to hold so we're looking at the 64p area as next up support. Failing that there's a gap at 52.75p and another at 13p though this last one was more than likely a game-changing breakaway gap from the initial discovery.

IIRC, early on on the halcyon days of GKP Mr Kozel said it would be important to manage PI expectations with respect to share price performance. I'm not sure this is what he had in mind...

I sold GKP 50% at 120p when the RNS on 13 March, the bare confess "Update" the reserve figure and other import aspects. I sold another 50% at 111p on 19 March, RNS about a debt bond offering. I felt totally loss and sad. But I sold them all. Today sp = 86p close. If I sold today I would have another 25% loss.

I remember AST downtrend. I sold at 5p, but now it is less than 1p. I sold RRL at 5p, now it is less that 1p, 0.73p. sp of companies of Oil exploration and developing as production are vy like going down in such terrible down turn way. GKP sp kept for quite long time above 160p due to the speculation of potential TO or the myth element of TO. Now it seems to me unlikely. I know if I don't sell, 120p, 110p would not available anymore.

However, I still have no bottle to short it. sp = 87p or below sounds incredible low. Whether it goes down more? May be, but I have not bottle to put money on bet.

Hello Jacko, hope you are well.. looks like higher low didnt get put in few days back. is your read still 87p as a low and then uptrend ? or is it going much lower - 50p area ? thanks a lot.

GKP has been shambolic. what a value destruction over last 3 years. Almost criminal fraud and negligence i would say to have withheld the SH6 results ..