GKP

bono do you know if the HNW investors are as miffed as PIs ? hope the EGM is being organised to vote off the incompetent trio of TK, JG, EA.

this looks like a dead share for some time now.. and a T/O if it happens will be at a knock down price of somewhere between 150-200p. but looking at it today, even that seems difficult.. So much has the company been run to ground by the bungling buffoons..

when the price close below the support on a closing basis...Also i would like to see the price stay below for a few days at least. preferably over a week...

manfrombrussels wrote: This may sound like a silly question, when do you declare support broken?

Say 87p, is it the minute the price falls below that point? is it when it closes a day below that point? It's around 84.5p right now, if it rose from here back to 90p today and closed at 91p, would you still say 87p was broken, or would it be a test of the support and found to be supported?

Jackozy - thanks, I'm googling 123-low as we speak.

Remo - interesting post, so as we stand right now, we could say that the 87p support held up. I know tomorrow is another day.

Hi Manfrombrussels

Please see the learn to trade section there is some interesting stuff there!

regarding the 123 low...just look on our website as the way others do it is slightly different.
I use candlesticks for it. And 123 low is the my main signal i use to determine potential lows.
yes 87 has still held this up as support but that area has been weakened a lot now. Since the price had gone lower than that level i would not go long from there for the short term. There still is no buy signal on gkp. Wait for a 123 low signal to pop up. I will post it on here when it does

demo.chartsview.co.uk/learning/123-Low.html

manfrombrussels wrote: Jackozy - thanks, I'm googling 123-low as we speak.

Remo - interesting post, so as we stand right now, we could say that the 87p support held up. I know tomorrow is another day.

Hello all Chart viewers....

lots of discussion on this share on here and via the live chat facility.... i put my thoughts on chat yesterday on why i bought at 83p 1st thing on Tuesday morning (scalp for now) so i'll replicate here...

1. all larger time frames are extremely rsi oversold readings, monthly and weekly esp - see charts
2. Monthly confirmed downtrend.
3. + div appearing, needs confirmation to kick in.
4. The daily candle (closing Marubozu) on Monday 31st March at - suggested exhaustive final thrust type move into support level, this was confirmed by the next day opening - a gap down... text book stuff, ending the day with a piercing reversal candle, eating into ~50%+ of the previous red bar on 31st march and closing just a tad under the 50% @ 91.75, 92 is 50%...
5. target area of around 82/83p on the H&S break.
6. it been really hammered of late
7. based on all the abv - i made the decision, after all initial target of this move was 87p and we got an exhuative type candle , a gap down and close back abv it yesterday....

whats next ?

needs more volume coming, buying pressure to fill that Mondays candle on day 3 (today)

short term needs to close abv 97 and take out 102 for strength to come in, stay abv 88/92p on any pullbacks ( today it cant really look back and close abv yesterdays high is fine but ideally no more than that, the higher the better)to confirm a possible reversal underway. this share still has lots of work to do and lots of resistances coming up.

need to break abv 97 for high prices, no break no higher...

Daily

dl.dropboxusercontent.com/u/40497882/GKP_Daily_02Apr14.JPG





weekly - in progress - note the rsi 0/S - since this share has been in trading.


dl.dropboxusercontent.com/u/40497882/GKP_weekly_02Apr14.JPG





all the Best,

WS