Gulf Keystone Petroleum Price: GKP Encounters Resistance at 180

PUBLISHED: Apr 14 2023 @ 13:16 | Comments (0) | More info about Azeez Mustapha

The present financial book of records shows that the Gulf Keystone Petroleum Ltd stock (LSE:GKP) encountered resistance around the line of 180 in the recent past operations following the emergence of an upward-gap-pushing force. The 160 trading zone has developed into a critical line. The northward trending path stemmed from a baseline of about the support level of 140. That said, stockholders should be in their positions for some time because the situation still portends an opportunity to continue to buy from the dips.

Resistance Levels: 180, 200, 220
Support Levels: 140, 135, 130

Is it still technically advisable to purchase shares of GKP Ltd, given that the price has made a corrective indication below the 50-day EMS?
A downward-pulling motion closely underneath the 50-day EMA trend line will potentially allow buyers to take advantage of it as the price encounters resistance around the level of 180. Like wisely, the 50-day EMA indicator is around the value line in question over the 15-day EMA indicator, which is around the point of 166. The Stochastic Oscillators are between 60 and 80 levels, trying to showcase a short line of consolidation-moving style. Most trading signals point to the buying binge outpacing other trends shortly.

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