- 1
GKP share price forecast demonstrates that the price may reach a high of £1.57 by 2023 end. - 2
GKP share price fell 1.16% intraday on Tuesday and closed at £1.197. - 3
GKP stock price surpassed above the 50-day EMA indicating an optimistic outlook in the short term.
Gulf Keystone Petroleum Limited share price shows a consolidation of over 30 intraday sessions after an advancement in the last sessions. The bulls are attempting to recover and turn the price trend in their favor.
Moreover, the pre-earnings sentiments were negative which turned around after the results. The share price recovered from a low of £0.84. The recovery was supported by a volume spike which signaled a reversal in the trend.
The daily chart illustrates that the GKP share price has surpassed the 50-day EMA indicating a bullish dominance in the short term. The price shows an accumulation near the recent swing high indicating a short-term correction before another bullish surge.
GKP Share Price Prediction 2023.
The price trend analysis illustrates that the stock price turned bearish after the price fell below the 50-day EMA in the last week of March. The bears turned aggressive after a breakdown and dragged the price from £1.95 to £0.84.
Moreover, the trend outlook has turned optimistic in the current quarter. The stock price may surge higher forming lower highs. The most optimistic outlook of analysts expect an upside potential of 60.17% which could lead the price to a high of £1.94 by the end of year 2023.
The price may also show more drawdown if bears dominate the price trend again. The pessimistic outlook shows a drawdown of 25% that may drag the price to a low of £0.89.
GKP Share Price Prediction 2024
The analysts offering a price forecast for the year 2024 have a wide range of outlook. The price may reach a high of £2.94 indicating an upside potential of 147.15%. The average analyst expects a price target of £2.31. The pessimistic outlook of the analysts expects a price target of £1.9 by 2024.
Conclusion
GKP share price has recovered from a low of £0.84 after the quarterly earnings report. The price has surpassed the 50-day EMA, indicating a bullish outlook in the short term. The price may correct before rising further.
The forecast for 2023 has a wide range of outlooks as the price may reach a high of £1.94 or a low of £0.89 depending on the market conditions.
Technical Levels
- Support levels: £0.98 and £0.84
- Resistance levels: £1.27 and £1.44
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/11/07/gkp-share-price-prediction-2023-2024-can-gkp-surpass-1-50/