Technical analysis: Gulf Keystone, Tern, UK Oil & Gas
Our analyst takes a look back at last week's featured stocks and discusses their latest movements.
15th July 2019 09:05
by Alistair Strang from Trends and Targets
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Our analyst takes a look back at last week's featured stocks and discusses their latest movements.
Gulf Keystone, Tern, and UK Oil & Gas
If only the UK stock market could prove as strong as UK sporting events.
Even cricket games, (we're told) were watchable though, personally, a firm line was drawn at tennis.
Proper sports really do not involve artificial balls. Formula 1 on the other hand provided a 200-mile race which reminded many folk why they are enthusiasts, despite the Ferrari guy once again trying to push a rival off track!
Tern
When we reviewed last week's headline shares, Tern (LSE:TERN) is a complete standout for its boring behaviour.
Price movements remained lacklustre with the share price still requiring to exceed 13.25p to signal something genuine may be happening.
It certainly came close on Friday as the day high of 13.25p was achieved during trading, rather than as an opening second spike. As a result, it should prove worth watching in the days ahead.
Source: Trends and Targets Past performance is not a guide to future performance
Gulf Keystone
Gulf Keystone Petroleum (LSE:GKP), similar to Tern, turned into a tease, following our report on Monday.
All we required was the price to close a session above 234p and it spitefully closed Friday at 233p, the highest point of the week.
However, we're not too dismayed and submit it should prove worth attention fairly soon. We'd suspect some hesitation around the 241p level in any immediate rise.
Source: Trends and Targets Past performance is not a guide to future performance
UK Oil & Gas
UK Oil & Gas (LSE:UKOG) has gotten dangerous and we suspect it intends relax to 0.75p soon.
Hopefully, sufficient reason is found to create a reasonable rebound at such a level but it needs above 1.125p to give some hope of any recovery that might be genuine. Until then, it's trading in a region where realistically we cannot calculate a bottom ambition.
Source: Trends and Targets Past performance is not a guide to future performance
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
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