By Thierry Laduguie | Monday 31 March 2014
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Looking at the long term (weekly) chart for Gulf Keystone Petroleum (GKP) and it is clear this stock is in some trouble. The breakout below 144p has very negative consequences in the long term. The long term support line (blue dotted line on my chart) was broken on 13th March. This line can be seen as the neckline of a head and shoulders pattern [S1,H,S2] which is a bearish pattern.
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