GERI bounce after consolidating at 38.2% Fibonacci Retracement level

Looks like 38.2% Fibonacci Retracement level is the strong support for GERI?. Today GERI registered a 4.9% increase from previous close, breaking the 1.91 barrier or the 23.6% Fibonacci Retracement level. Is the newly found support going to hold? Next resistance will be the 2.12 per share which was visited last March 14.

Ichimoku elements are in green light but Kijun Sen is still a threat. It will take few more days before this will bend upwards.

RSI or Relative Strength Index is currently at 67.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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