Gulf Keystone Revisited

#DowJones #BrentCrude We reviewed Gulf Keystone last September (link), an article which generated no email complaints or threats. This probably signifies how far GKP has fallen from favour, once the darling child of a bunch of internet warriors. Now, the price is doubtless a forgotten refuge for internet worriers, we’re quite pleased the share triggered and successfully achieved both our target levels from September.

In fact, GKP is now soaring well above its den of lethargy, doubtless reflecting on the current optimism in the crude oil marketplace. To be fair, Gulf Keystone share price has mimicked movements against Crude pretty closely since April 2020 with the result, now we’re able to calculate $74 as a viable ambition for Brent Crude, perhaps it shall make sense to keep an eye on GKP in the hope the price continues to follow a similar trajectory.

It must be remembered, GKP presently trading at 147p, is really priced at 1.47p, thanks to the 100:1 share split in 2016. By no stretch of the imagination is the price respectable but that doesn’t mean to say it cannot experience some further recovery. Unfortunately, we doubt we will be able to offer succour to those trapped since 2012, needing the price to now recover above 400 quid to break even. We’re unable to spot early signs of such a miracle.

 

Near term, trading above 158p looks capable of triggering some further gains, calculating with an initial potential at 171p with secondary, if exceeded, at 186p. We’d strongly advocate keeping a weather eye on the price of Brent in this scenario, expecting hesitation should GKP achieve 186p around the same time Brent hits the $74 level. We’re a little less comfortable with a Big Picture scenario, one which demands Gulf close a session above 186p in the future to trigger happy days. Allegedly, such a miracle ticks the first box in a train of events which allows a distant sounding 239p.

If it all intends go wrong for GKP, the price needs reverse below 127p. Such a movement would require a long hard look at the tea leaves again.

Hey, chart goes here

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:25:56PM BRENT 58.65 57.26 56.885 56.23 58.2 58.9 60.28 61.29 57.26 Success
10:27:26PM GOLD 1834.43
10:29:56PM FTSE 6542.81
10:32:04PM FRANCE 5569 ‘cess
10:38:15PM GERMANY 13977 ‘cess
10:40:11PM US500 3839.12
10:52:38PM DOW 30823 30671 30513 30404 30756 30825 30925.5 31062 30708
10:54:42PM NASDAQ 13437 ‘cess
10:56:44PM JAPAN 28593

 

 

3/02/2021 FTSE Closed at 6507 points. Change of -0.14%. Total value traded through LSE was: £ 5,250,745,013 a change of -4.46%
2/02/2021 FTSE Closed at 6516 points. Change of 0.77%. Total value traded through LSE was: £ 5,495,808,707 a change of -1.14%
1/02/2021 FTSE Closed at 6466 points. Change of 0.92%. Total value traded through LSE was: £ 5,559,234,674 a change of -18.33%
29/01/2021 FTSE Closed at 6407 points. Change of -1.82%. Total value traded through LSE was: £ 6,807,283,964 a change of 10.19%
28/01/2021 FTSE Closed at 6526 points. Change of -0.62%. Total value traded through LSE was: £ 6,177,631,505 a change of -22.29%
27/01/2021 FTSE Closed at 6567 points. Change of -1.31%. Total value traded through LSE was: £ 7,950,046,552 a change of 35.23%
26/01/2021 FTSE Closed at 6654 points. Change of 0.24%. Total value traded through LSE was: £ 5,878,949,067 a change of -1.5%

 

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