GERI establishing support at 23.6% Fibonacci Retracement level

GERI may continue to rise following the unconfirmed reversal from the Doji candlestick yesterday. Our immediate support is the 23.6% Fibonacci Retracement level or around 1.58 per share while resistance at 1.81 per share.

RSI or Relative Strength Index set at 10 periods is now at 82. So GERI is already considered overbought.

Caveat!

Leave a Reply