Gulf Keystone stock (LSE:GKP) has been a bad market for both investors and traders, for most part of this year. Investors have lost so much money as they watch the value of their stakes on GKP go down, since the beginning of 2020 till now, traders also would have become frustrated as the market is locked in a tight range since April 2020.
Price is not decidedly above or below the EMA 21, emphasizing the current
base in the market. The William’s % Range period 20 has swung from overbought
and oversold territories and it is currently going upwards, after touching the
oversold territory.
Gulf Keystone is a weak stock whose performance has been weak in the past
few years. It is a “sell,” not a ‘buy.’ Any bullish breakouts would be taken as
false breakouts – traps for bulls. Any bearish breakouts may be another
opportunity to ride a news lease of bearish movement further south.
The conditions on GKP are great bears to profit. Bulls who bet on the
market may lose money.
Trading realities: Realities in trading
Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha
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