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

PUBLISHED: Mar 17 2024 @ 02:59 | 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.

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

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 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.