Zak Mir: an anatomy of a breakdown GKP

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By Zak Mir. 

Gulf Keystone (GKP): Anatomy of a Breakdown

It would appear that even with the Excalibur victory behind it in September, Iraq focused explorer Gulf Keystone still has enough issues to make a lasting bull run for the stock appear any time soon. 

  • Exhaustion gap / bull trap combination sell signal in September
  • Break below gap floor at 193p
  • Extended failure below 50 day moving average now at 185p
  • Break below October 165p support this week
  • Only back above 165p – 170p would even begin to delay ongoing bear phase.
  • Worst case scenario a target towards 120p / 2012 support line projection 

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