Annual forecast for Gulf Keystone (2021)

PUBLISHED: Jan 12 2021 @ 04:07 | Comments (0) | More info about Azeez Mustapha

Gulf Keystone shares (LSE:GKP) are very strong right now and they will become stronger and stronger for most part of 2020. The bullish momentum has become very prominent since the recent bearish trend ended in November 2020. The bullish movement that has been witnessed in this month of January 2021 has been quite spectacular as price jumps upwards on a serious buying pressure.

4 EMAs are used for this analysis and they are EMAs 10, 20, 50, and 200. The color that stands for each EMA is shown at the top left part of the chart. All the EMAs are currently sloping upwards – a bullish signal.

There is already a Golden Cross in place as price is far above the EMA 200, which itself is catching up in solidarity with other EMAs as they slope upwards. There could be occasional retracements towards the EMAs 10 and 20 and that could be opportunities for latecomers to enter the market at better rates.

This year GKP might reach the supply zones at 200.00, 400.00 and 600.00. Those are the targets for the year 2021.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Teach Yourself Technical Analysis: Teach Yourself

Click Here to register for free on Investors Hub

Follow @ItuGlobal

This area of the investorshub.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 Investors Hub. Investors Hub 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 Investors Hub 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 investorshub.advfn.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.