GKP

Morning Jacko - and thanks for your analysis.
I am assuming that if GKP fails to close above 167/8 today then you might revise your analysis.
Dec 13th is a big day for the company, however, and the prospect of clean title with no appeal might be enough to keep your upside targets in play. Volumes as we approach that date will no doubt be key.

This is looking good for the medium to long term now IMHO. Here are a few different timeframe charts starting with the daily:



dl.dropboxusercontent.com/u/20815047/FTS...GKPdaily01_12_13.png

Weekly:



dl.dropboxusercontent.com/u/20815047/FTS...KPweekly01_12_13.png

And the monthly showing a lovely hammer:



dl.dropboxusercontent.com/u/20815047/FTS...Pmonthly01_12_13.png

Levels to watch next week are 179p, 171p, 186p, 173p and 193.75p. I also think that there could be a retrace to 166p after that to test the breakout point (and form a wave 2). The next projection after that is at 240p - all these EWT projection come in at known price resistances or supports....nice.

PS They're just speculation. Buy the dips might be a good policy here now IMHO.

The main down trend line from September is holding this back



dl.dropboxusercontent.com/u/4899609/gkp22ndnov.png

There is 2 possibility on GKP for a long
The first one could be going long on the trend line play which is currently at 142.3(changes daily).This will be a first attempt trade only.
or wait for the 123 low formation. The level to go long on this would be a break above 168.5 as long as we don't go below 148.75 in the mean time.


dl.dropboxusercontent.com/u/4899609/gkp20thnov.png

Nice island formation currently and this after a hammer.



dl.dropboxusercontent.com/u/4899609/gkp14thnov.png

Possible hammer at 149/151p support today.

There's a price low at 151.25p but the 149p comes from the 78.6% Fib of 126 to 240 and it's also the target for a 5th wave given by wave 5 = wave 1 (240-203) taken from the wave 4 high: 186-37 = 149p.

Needs to follow through tomorrow to confirm.

Stops should be below the main trendline of 141p.