Tuesday, July 5, 2016

Gulf Keystone – A Doomed Stock

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

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