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Annual forecast for Gulf Keystone (2021)

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Gulf Keystone shares (LSE:GKP) are very strong right now and they will become stronger and stronger for most part of 2020. The bullish momentum has become very prominent since the recent bearish trend ended in November 2020. The bullish movement that has been witnessed in this month of January 2021 has been quite spectacular as price jumps upwards on a serious buying pressure.

4 EMAs are used for this analysis and they are EMAs 10, 20, 50, and 200. The color that stands for each EMA is shown at the top left part of the chart. All the EMAs are currently sloping upwards – a bullish signal.

There is already a Golden Cross in place as price is far above the EMA 200, which itself is catching up in solidarity with other EMAs as they slope upwards. There could be occasional retracements towards the EMAs 10 and 20 and that could be opportunities for latecomers to enter the market at better rates.

This year GKP might reach the supply zones at 200.00, 400.00 and 600.00. Those are the targets for the year 2021.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Teach Yourself Technical Analysis: Teach Yourself

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