Trends and Targets for 3/10/2018

Gulf Keystone #Nasdaq #CAC40 Once the lawn has been given its last cut of the year, an inevitability establishes itself when realising the next big deal ahead is Xmas. While always something to look forward to, the chaos in the intervening period can be a nuisance. In the case of #GKP, we think it’s had its equivalent of “the final cut”, hopefully saying goodbye to the reaper and instead looking forward to some good times.

We can hope!

Visually, it appears 304p is quite a big deal to the market as the share price has not been allowed, thus far, to travel beyond such a level. As a result, it seems sane to assume this shall prove to be a trigger level for the future. This being the case, the immediate situation is of movement above 304p taking the price into a region where 332p becomes an initial ambition. If bettered, our secondary calculates as a longer term (or next day!) 363p

From our perspective, the chart inserts show a fascinating series of price movements, something GKP has unfortunately become used to. The share was forced downward with a gap movement at the end of August, this manipulation coming with the presumption the price was being held back from breaking the downtrend since 2016. As moves show, despite this throttling of ambition, the price has now crept through the BLUE downtrend but effectively accomplished nothing since. This creates our assumption it needs better the previous high of 304p before some upward movement will become a reality.

For us, we’re being unusually optimistic about GKP’s future potential, even to the point of showing 516p on the chart in distant hopes. However, there’s also a bit of reality worthy of mention. If it ain’t goin’ up, it’s goin’ down!

Despite the presence of a RED uptrend, currently at 258p, the share really needs trade below 240p – the prior dip – before we’d dare exhibit alarm for its future. In such an event, we’d need start muttering about 180p and below.

FUTURES

	Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
	9:56:12PM	BRENT	84.67
	9:58:31PM	GOLD	1203.08									Success
	10:00:55PM	FTSE	7488.69
	10:02:33PM	FRANCE	5465.7	5439	5424	5383	5481	5482	5494.5	5513	5452	‘cess
	10:04:28PM	GERMANY	12276
	10:06:36PM	US500	2925.57									‘cess
	10:08:51PM	DOW	26811.6									‘cess
	10:10:22PM	NASDAQ	7632	7600	7566.5	7527	7651	7667	7688.5	7701	7609	‘cess
	10:11:51PM	JAPAN	24223

 

2/10/2018 FTSE Closed at 7474 points. Change of -0.28%. Total value traded through LSE was: £ 9,239,652,104 a change of 159.22%

1/10/2018 FTSE Closed at 7495 points. Change of -0.2%. Total value traded through LSE was: £ 3,564,396,119 a change of -47.45%

28/09/2018 FTSE Closed at 7510 points. Change of -0.46%. Total value traded through LSE was: £ 6,782,949,546 a change of 18.06%

27/09/2018 FTSE Closed at 7545 points. Change of 0.45%. Total value traded through LSE was: £ 5,745,286,461 a change of 0.81%

26/09/2018 FTSE Closed at 7511 points. Change of 0.05%. Total value traded through LSE was: £ 5,699,071,237 a change of -15.29%

25/09/2018 FTSE Closed at 7507 points. Change of 0.66%. Total value traded through LSE was: £ 6,727,908,763 a change of 2.05%

24/09/2018 FTSE Closed at 7458 points. Change of -0.43%. Total value traded through LSE was: £ 6,592,959,705 a change of -47.68%