Gulf Keystone stock (LSE:GKP) is a doomed market. The future of the
stock is gloomy and bleak, and it might as well go below the great
psychological level at 1.00 in a foreseeable future.
4 EMAs are used for this analysis and they are EMAs 10, 20, 50 and
200. The color that stands for each EMA is shown at the top left side of the
chart. It can be seen that the stock has been trending downwards for a long
time (all the EMAs are sloping downwards).
Gulf Keystone is a kind of consolidating since the past few months,
but the expected momentum in the market would favor bears, when it does arise. Some
might be awaiting a rise in a strong bullish momentum. Well, they could be
disappointed because the best approach right now is to sell the stock when it
rallies temporarily into the EMAs 20 and/or 50.
This forecast is ended by the quote below:
“Above all, remember your job as a trader is not to
predict where stocks will go. Instead, trade “in the now” by merely reacting to
what you see in front of you every day. – Deron Wagner
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders
Don’t Want You To Know: Super Traders
Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng
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