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!

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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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