Annual Forecast on Gulf Keystone (2017)

PUBLISHED: 27 Jan 2017 @ 12:49 | Comments (0) | More info about Azeez Mustapha

Gulf Keystone shares (LSE:GKP) have formed a strong base. The outlook is bearish in the long-term and neutral in the short-term. The current base started in September 2016, and it has held out till now.

The position of the ADX period 14, its DM+ and DM-, points to a trendless market. The position of the MACD (default parameters), with the signal lines and histogram, also points to a trendless market.

This means that Gulf Keystone is not a good market to speculate on right now. However, a strong breakout (a rise in momentum) is expected and that would be strong or violent, putting an abrupt end to the current bearish outlook/neutrality.

It cannot be mentioned exactly when this would happen in 2017, but the bearish trend seems to have gone too far and it is currently being rejected at the base. It seems the market would not go further south.

The more the flat movement holds out, the more imminent a strong breakout is… a momentum that would most probably be in favor of bulls. This would create a wonderful trading opportunity for buyers and the expected strong rally would put smile on their faces.

Super Trading Strategies: Super Strategies

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.