Gulf Keystone stock (LSE:GKP) is a doomed and hopeless
market, which is expected to continue trending downwards and downwards, after
it goes out of the current equilibrium phase.
Price has been caught in a tight equilibrium phase, which
has started since April 2016. This has resulted in a strong base, which would
eventually lead to a strong breakout in the market. What happened last month –
a false bullish breakout – was a classical example that any rally in the market
is a clean trap for adamant bulls.
Price is currently between the upper and lower Trendlines.
Given the current position of the RSI period 14, it is more likely that the
market would continue going south after there is a rise in the momentum.
In a foreseeable future, Gulf Keystone would eventually
reach the accumulation territory at 0.5. Sell to the territory!
This forecast is ended by the quote below:
“In many ways people believe that they have a long term
relationship with a stock that should continue on a linear trajectory. Very few
things in life are linear other than the relentless advance of human stupidity
fueled by social media.” –
Chris Tate
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Super Trading Strategies: Super Strategies
Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng
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