GKP

For those looking to trade the fall, here is a reminder of the key levels. The GAP has to be a reasonable target but IMO any trading tomorrow is very risky. Best to let things settle and get fully digested.





GL
F4T

there is strong support at 42.25 but the fact that gkp is hovering around this area is suggesting that this level could have a serious test and a break would be bad for gkp as there aint any major supports until the low 20s.
The recent triangle break to the downside is also bearish for this share..
Support...42.25,,,,37,,,23.75,,,21.5


monthly chart of gkp so as you can see the levels more clearly


dl.dropboxusercontent.com/u/4899609/gkp11thfeb2015montly.png

Long term weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...HBoE=&symbol=L%5EGKP :(

Close up, 24p (falling weekly) the place the best place to buy imho
uk.advfn.com/p.php?pid=chartscreenshotsh...Mo%3D&symbol=L%5EGKP

we do have a RSI divergence on the weekly, which makes a rebound possible at any time, but i'm waiting for 24p, so lets see. 24p in terms of R/R make sense imho...

Regards,
Trendfriend.

its clear to see why i always say when a share finishes near strong support its best not to take the long trade.
GKP has clearly broken strong support .. Now if thats back tests it in a few days time just short it from the back test area with tight stops.
warning signs were here for a while especially the back test of the triangle breakout the other day.That was the perfect short area.
lower prices should follow now so be warned. There are no buy signals on this share for a long time.
just wait for a 123 low formation before considering any longs, or if your a day trader then look to go long only at strong support on a first attempt basis.
good luck.


dl.dropboxusercontent.com/u/4899609/gkp12feb2015.png

Hi All,

as predicted, this is in real trouble and has now set a new low. As per my chart, the long term support of 45 was the key area. I highlighted 45 some weeks ago. Once that went we could expect new lows. It is notable that 45 didn't even back test today. The gap is still the best chance for a bounce btu still risky when liquidity is an issue. Whatever financing options GKP come up with, it will be bad for shareholders (they have a record of poor and expensive financing). Once GKP bottoms though, I think there will be excellent opportunities for 100% minimum, assuming they do manage to finance that is.

Wait for the financing detail, then wait again.






GL
F4T

PS: TF, I have the weekly support at 29. The Monthly support was pierced yesterday and that is never good.

Hi Remo ,,,, with Brent rising to $60.32 this morning would you still take that sell trade on the retest of the 42.25 support line should we get there,,,, or adopt a wait and see

I realise that this oil rise does not alter GKPs financial mess