GKP

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.

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.

Hi B77,

I'm a little concerned about the weakness since 178p, yes. There's now a possibility of a negative RSI divergence at that price though, like most things in GKP's chart, it's not clear.

As far as Dec 13th is concerned, the assumption among investors will be that an appeal will be refused but that may not be the case. In any event, news of the original court case victory didn't do many favours so I think it's dangerous to make assumptions regarding either the outcome of the hearing or, indeed, the impact on the SP either way.

A good place to go long for today is 158.9. This is where the new up trend line is for today. This is drawn due to the down trend line being broken recently. Stops are below 153 so small risk.


dl.dropboxusercontent.com/u/4899609/gkp3rddec1.png

Spot on Jackozy re: CC etc. There is no place for positive bias or emotional attachment in trading / investing, especially on a pro-technical site as it may influence others to risk funds that they do not have. Some never learn.

Jackozy wrote: Hi B77,

I'm a little concerned about the weakness since 178p, yes. There's now a possibility of a negative RSI divergence at that price though, like most things in GKP's chart, it's not clear.

As far as Dec 13th is concerned, the assumption among investors will be that an appeal will be refused but that may not be the case. In any event, news of the original court case victory didn't do many favours so I think it's dangerous to make assumptions regarding either the outcome of the hearing or, indeed, the impact on the SP either way.

Meanwhile...



Bullish no?