User Notice: The site will be occasionally unavailable due to scheduled maintenance this weekend. Please accept our apologies for any inconvenience.

Monthly Value Forecast for Gulf Keystone – November 2020

Share On Facebook
share on Linkedin
Print

Gulf Keystone stock (LSE:GKP) remains largely bearish, but there has been an ongoing bullish effort to rally. The bad fundamentals coming out of the oil industry have not been helping matters at all.

The market has been quite choppy and bearish in the last several months. This month, bulls are struggling really hard to push price upwards, despite all the odds against them. 4 EMAs are used for this analysis and they are EMAs 10, 20, 50, and 200. The color that represents each EMA is shown on the top left part of the chart.

All the EMAs are generally bearish, but price is trying hard to break the topmost EMA to the upside, and to stay above it. This feat will be achieved within the next several weeks, as the market has formed a base, and it looks as though it has nowhere to go except to the upside.

As far as GKP is concerned, we are looking for more favorable outcomes for bulls, which may take price towards the resistance levels at 80.00, 85.00 and eventually 90.00.

Teach Yourself Technical Analysis: Teach Yourself

 

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20210509 11:39:40