Friday, January 27, 2017

Annual Forecast on Gulf Keystone (2017)

Gulf Keystone shares (LSE:GKP) have formed a strong base. The outlook is bearish in the long-term and neutral in the short-term. The current base started in September 2016, and it has held out till now.

The position of the ADX period 14, its DM+ and DM-, points to a trendless market. The position of the MACD (default parameters), with the signal lines and histogram, also points to a trendless market.

This means that Gulf Keystone is not a good market to speculate on right now. However, a strong breakout (a rise in momentum) is expected and that would be strong or violent, putting an abrupt end to the current bearish outlook/neutrality.

It cannot be mentioned exactly when this would happen in 2017, but the bearish trend seems to have gone too far and it is currently being rejected at the base. It seems the market would not go further south.

The more the flat movement holds out, the more imminent a strong breakout is… a momentum that would most probably be in favor of bulls. This would create a wonderful trading opportunity for buyers and the expected strong rally would put smile on their faces.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Super Trading Strategies:  Super Strategies 

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