Gulf
Keystone stock (LSE:GKP) has broken out of a long-term base and this could be
the beginning of a persistent bullish run. The price trended south in January
to March 2015. The gap that occurred in February simply proffered an opportunity
to sell short in the context of a downtrend.
Since
April, the stock has been moving sideways, forming a strong base. Upon a closer
look, it would be seen that the price was consolidating to the downside. What would happen now? There is one sure
outcome: Sideways and slow movements would be followed by strong and fast
movements, no matter how long the slow movements take. Strong and fast
movements would be followed by sideways and slow, no matter how long the fast
movements take. When the markets are moving slowly and sideways, trend-following
strategies suffer.
The
price has broken to the upside, closing above the EMA 21; plus the Williams’ %
Range period 20 gone into the overbought region. The price appears to be ready
for a northwards journey within the next several months.
This forecast is ended by the quote below:
“After all, one thing is certain: The best tip will only
be of use to you if you believe in it deep down and can then apply it
consistently in practical trading.” – Marko Graenitz
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders Don’t Want You To Know: Super Traders
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