GKP continue to hold Continues in 2yr plus ascending channel with broker rating+50% and continued dividends no advice given
Took trade at 96p, Targets 110p, 118p and 135p (Gap fill).
Long term Weekly EW Analysis of GKP. - On a basic fundamental level GKP, as of today, has more cash than the value of their Market Cap and Debt combined (+£35M more). The last dividend was 16p. Whether they can maintain this going forward is another question. - In my EW analysis, the price target for the next and final drop in this phase is 30p, but anywhere...
Bounced from 230p where 200ma daily is & 50ma weekly plus strong support here, if oil price remains stable or rises then we should head to next leg, if not then best to exit if we remain weak & lose 230p level as next support might be 205p so best not to hold or if longer game average down at 205p Target remains 300p (if oil price remains strong) where last...
Don't hold this stock but quite bullish on the move & I believe it will head to 300p RSI & price break out, looks strong & easy to see on RSI
20ma monthly chart at around 160p & several support levels on weekly between 158 to 160p. Losing that support will head lower to the next support at 129p but RSI getting oversold and a little divergence happening so we might see a bounce before. Oil price is quite important to also keep a look out.
2 reasons to be bullish: a 50EMA crossover of the 200 EMA and a breakout from 130.
volume spike on time combine with accumulation on price (noted by high volume on VP). Leads me to believe some bullishness is being introduced on a discounted value play.