GKP

Its hard to believe but GKP has been in a sideways market for 3 years now. This share has been good for the short term trader but for long term its pretty ordinary .Its not really gone any where and with its fundamentals its surprising This just proofs that fundamentals dont work as good as technical.I used to be emotionally attached to this share ages ago as well but i know from experience that you should never get attached to any thing with regards to trading so hence why im not any more.
Ive been in and out a few times on GKP. The important level now is 141 roughly. If that goes then 126 and possibly lower. The worst case would be 87 as its the bottom of the sideways market price. Id be surprised if it gets that low(based on fundamentals) and i know many would just throw in the towel if it did.The only people that are sitting there comfortably are the 12p brigade .For them its not an issue as most are sitting with free trades. I was one of them but sadly am not any more as dont hold any shares any more.



dl.dropboxusercontent.com/u/4899609/gkp%20far.png


dl.dropboxusercontent.com/u/4899609/gkp13thnov.png

support...141,,126,,117,,87
resistance..165,,179,,189,,220,,245

bear in mind there is always a GKP type share out there so dont have all your money riding on one share. Trading is a long game.

Agreed on the c. 140 target. I hadn't given much consideration to beneath that aside from the obvious 126.



dl.dropboxusercontent.com/u/24866576/Nov...td%20131113wk%20.png

All the best,
M.

IMHO 140/1p is the only sensible place to attempt to catch the bottom of this knife, but much better now to wait for a 123-low set-up if you can. Here's the weekly showing how the long standing support at 141p meets the main uptrend from the 10p days at that level in the next few days:



dl.dropboxusercontent.com/u/20815047/FTS...KPweekly12_11_13.png

If that trendline goes on a closing basis then it's goodnight Vienna to £1+ IMHO and bonjour to 87p or even 64p (which still might come after a bounce according to one wave count option).

Fundamentals? What are they??!!

HI Pez - 161 was the 1st level, now below 154. daily needs to turn and get abv 160/1 or the possibilities of 141 remain in sight,assuming price now hold below 154 and takes out 151/52.

rgds WS

Thoughts on the price action? WS I noted you said 154/7 needed to hold on a daily/weekly closing basis.

155 close yesterday so just held on the daily but sentiment seems at an all time low so not looking great?

This bounced of the support today..If you look carefully on the chart you can see how 166 has been strong support .
For the bulls to take control GKP has to finish above 186.25.A finish above this could open up 245 again??


dl.dropboxusercontent.com/u/4899609/gkp6thnov.png