GKP

a very old chart

wish it was always this easy

bonobo77 wrote: I sold the 10000 I bought at 205.25 yesterday for a 20p gain today.
Bit of fun, really.
I can't see any fundamental justification for the sharp rise other than the market putting back some of the value it took away from the start of the court case. But a judgement might not come until May/June, and the politics aren't great right now ... so a lot can happen. Perhaps there are whispers coming from MOL's direction, but the one thing I rule out just now is any thought of an imminent t/o. The conditions in Kurdistan are not right for it yet.

Anyway, sorry to pollute a chart board with a fundamental view, but it does help me see how Jacko's retrace is very possible.

Hi bonobo
It's good to have a fundamental views as well as that will add to this board.
Feel free to use fundamentals .
It sure can help with penny shares.

This share is very popular indeed .....
Just look at how many times it's been viewed.
Lol

AdeMcG,

with respect, that is what all the PI crowd were saying when the sp was over 400.

bobbono77,

I disagree with remo(sorry mate to be controvercial again) in that there is no place for fundamental guessing and star gazing on a TA board. Why not keep that for those on the iii circus eh where it belongs?

Also, is it just me but I also dislike posters that like to publicise the monetary side of their profitable trades. It adds no value at all and is just petty gloating.


I think we will see 230 today per my earlier post, if only on a spike.

F$T

AdeMcG wrote: I am a little hesitant to hit the sell button until I see a change in sentiment, even if it pushes through 230p (could be tomorrow) who is prepared to sell just because it has hit a theoretical target?
I would want to see a sign that the buying pressure (over 10 million traded today) has subsided or something to indicate the "smart money" is exiting.

Anyone else got some thoughts on what to look out for, I don't have DMA and I work during the day, so it is difficult to see what is really happening.

All I know is that my free shares (been in since 11p and took my capital out long ago) have had a great run, and I would welcome the chance to bank the profit at the top (for once) and re-buy at a lower level to increase my number of shares.

From Jackozy's thoughts, it could go something like this:

Sell at 230p (gap resistance)
Buy back at 187p (61.8% for a wave 2)

Sell at 298p (peak of Wave 3)
Buy back at 256p (38.2% retrace from 298p to form wave 4)

Sell at 329p (peak of 5th wave)

A working example form my own freebies:

GKP TRADE STRATEGY
Sell 5000 shares @ 230p = £11,500
Buy back @ 187p = 6149 Shares

Sell 6149 shares @298p = £18324
Buy back @ 256p = 7157 Shares

Sell 7157 shares @ 329p = £23,549
Increase = £12,049
% increase = 104.77 %


Alternative Strategy, If held and not traded:

Sell 5000 shares at 329p = £16,450

A bit of trading could potentially net me some £7,099

if only it was this simple !!!

Food, I respect your views.
From a strictly TA perspective today could be a critical day.
If the gap closes at 230 and holds above it, then the rise might have more fuel in the tank.
I see that 246p and 260p have been quoted as targets.
Should it spike to 230p in the morning rush and then drop (like it did to 204p just 48 hrs ago), then we're looking at a backtest of 217p at least, possibly overshooting to 210p, and maybe a trip back to both 204p and then 187p on Jacko's wave count.

Hi F4T, anyone who knows my postings from the original Chartsview days will know I was not intending to gloat and only posted the figures as an illustration of what I should have done when it reached 460p, e.g. sell and buy back.

I like your straight talking approach, so don't take my comment as a rebuff of your statement, just a positioning and context exercise to realign your perception of me

Whilst I tend to agree with the Technical points you raise, fundamentals must be borne in mind when it can make a game changer happen.
GKP over the last few years has often fooled many TA experts, only with hindsight have they then seen the full picture, which helps no one in real time.
I say this because if we are all expecting it to hit 230p and retrace, it will likely over shoot this just to spite your charts and theories....lol