Gulf Keystone stock (LSE:GKP) is currently forming a base.
Price is bearish in the long-term and neutral in the short-term, and it is now
forming a strong base. Why would price go from here?
Price is currently consolidating; being directionless. The
ADX period 14 is below the level 30, meaning the momentum in the market is very
low. DM+ and DM- are intertwined, giving no directional movement, which is
another indication of a flat market. The MACD default parameters has its histogram
above the zero line, while its signal lines are below the zero line. This does
not give any direction right now.
However, a rise in the momentum is expected sometime this
month, and it would most probably be in favor of sellers. Gulf Keystone is a
doomed stock, and therefore, any rallies would eventually turn out to be bulls’
traps.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Super Trading Strategies: Strategies
Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng
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