GKP

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.

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.

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.

Nice island formation currently and this after a hammer.



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

The main down trend line from September is holding this back



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