GKP

uk.advfn.com/p.php?pid=chartscreenshotsh...v0%3D&symbol=A%5EAPT

There are some positives right now for longs and some negatives. I'd call them even right now.

Positives: If 54.25 remains today's low we have a tweezer bottom near a support level maybe combined with a bullish harami. RSI support is also holding strong so far.

Negatives: Gap not closed - not close enough for me. Bounce today hit it's head on / back tested previous support and failed (so far). Also didn't make resistance at 61. Volume is still not enough for me to indicate a bottom.

73.75 fell on the third attempt. So did 61. The tweezer is two tests on 54.25.

Whereas for me volume is not enough yet, this could be satisfied during a sharp move upwards today/this week. 10-15MM would do it IMO. If this is the bottom then the share is not performing as it usually does, but that is no reason why it can't.

I am happy to wait and as Remo pointed out, if you miss the low entry then a horizontal breakout can still be taken. When it does turn we should see a 20% rise at minimum so there is plenty of profit available but that might be before a breakout, not after. The first key is not to make losses, not to chase profits.

In any case, all this might still not end the long downtrend, sucha re the issues with GKP.

That's all.

F4T

PS: Can you elaborate on the 37 support please Remo. Ta

Thank you for the analysis once again.

Got stopped out this trade.

Trendfriend wrote: Got stopped out this trade.

I thought you went long at 54.9 and were going to add more if it dropped to 50?? How low was your stop?! Apologies in advance if I'm being gormless and missing something!

No your right, Earl, should have mentioned, i moved my stop up to B/E on the rise yesterday, as i had a fairly large position, forgot to post it here, apologies.
i always move my stop up, to protect capital on a decent rise after going long.
I got cut out @ 55p.
Disappointed with this, thought we would get at least a substantial technical bounce, which we did but it was very short lived.

Regards,
Trendfriend.

Well, the gap closed yesterday as 54.25 broke on third attempt. No bounce as we had this already from 54.25 the other day.

Toilet paper time now with little meaningful support below until 18.50. Will be interesting to see what happens if it breaks 50 re: stops etc.

GL
F4T