Gulf Keystone shares (LSE:GKP) are very weak right now. For several months, the price has been unable to go determinedly upwards in spite of desperate efforts by the bulls.
Again, the price has broken out below the lower Trendline, while the RSI period 14 has gone below the level 50. While this signifies a ‘sell’ signal and the continuation of the bearish outlook on the market, there may be occasional reverting towards the region above the lower Trendline (which may make the price movement look like a false breakout). This occasional situation would be invariably short-lived, as the price goes further south.
The price may test the accumulation territory at 70.00; even before having any chance of transitory or sustained bullish reversal.
This forecast is ended by the quote below:
“A trader needs to learn to maintain emotional stability. If a trader gets excited on winning days, and then goes into a depression on losing days, he may hesitate to take a trade even when he sees an opportunity.” – Adrienne Tograhie
Learn from the Generals of the Markets: Market Generals
CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).
This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.
Hot Features
Premium
Trade like a pro: Leverage real-time discussions and market-moving ideas to outperform.
