Gulf Keystone Petroleum Price: GKP Prepares for a Baseline

PUBLISHED: 12 Mar 2023 @ 03:07 | Comments (0) | More info about Azeez Mustapha

Going by a logical sense of trading, the Gulf Keystone Petroleum Ltd stock market (LSE:GKP) has prepared for a baseline, as witnessed in some of the previous lower points. The present situation has usually re-occurred, leaving a wide margin between a buying and selling position. Thus, those long-position holders need to exercise caution when placing an order by taking their capital base into account to cover the spread if the market tends to fall for a lower support line.

Resistance Levels: 210, 220, 230
Support Levels: 150, 140, 130

What is the position reading of the GKP EMA indicators concerning the stock’s manner of trading?
With the featuring of several trading candlesticks, the GKP EMA trend lines are eastwardly, indicating that a degree of range-bound zones is unfolding as the stock market gets ready for a baseline. The 15-day EMA and the 50-day EMA indicators are closely above the 200 lines. The Stochastic Oscillators have trasversed into the oversold region. It shows the trade is in the outlook of forming a rebase.

Learn from market wizards: Books to take your trading to the next level

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).

Follow @ItuGlobal

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 Ltd. ADVFN Ltd 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.