Gulf Keystone Petroleum Price: GKP Waxes Slowly, Facing a Positive Exhaustion

PUBLISHED: 17 Mar 2024 @ 17:59 | Comments (0) | More info about Azeez Mustapha

As the present trade operations are having it, the Gulf Keystone Petroleum Ltd. stock (LSE:GKP) is waxing slowly, facing a positive exhaustion around the resistance line of 115.

A long-holding position of the shares market below the barrier line may metamorphose into producing a line of rejections. If the analytical assumption is accurate, stockholders planning to experiment with stocking operations have to exercise caution before making any new movements.

Resistance Levels: 115, 125, 135
Support Levels: 95, 90, 85

How much potential for pushing northward does the GKP Ltd. stock now have?
Technical point of view has revealed that uprising velocities have reached a considerable capacity that a correction may be tended, given that the Gulf Keystone Petroleum Ltd stock axes slowly, facing positive move exhaustion.

The stochastic oscillators have found in the axes of the overbought, showcasing that bulls are attempting to push in a consolidation moving pattern. The 15-day EMA trend line has been in a position of trying to cross northbound from the beneath close to the line of 50-day EMA. A bullish candlestick is in the making. And a sudden reversal of the trend to decimate its bottom spot will signify that further moves to the downside is likely to hold.

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