GERI may move sideways

GERI may continue to trade the 1.81 – 1.99 range and extend to 2.03 where the Senkou Span B is. While the bulls are trying to bring the price up, the Kijun Sen line that is moving horizontally at 1.67 is also pulling the price down. It will take few weeks before this line will bend unless the 2.12 highest price within the 26-period will be breached.

All Ichimoku elements are still in a bullish position and GERI still has the potential to reach around 2.43 per share or around 78.6% Fibonacci Retracement level unless our indicators will say otherwise.

Caveat!

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