Opportunity to buy if GERI will correct. Ichimoku elements still in green

Two consecutive Doji candlesticks on GERI as it tries to break the 1.52 resistance. The last two candlesticks suggest that the bullish sentiment of GERI is diminishing. Current support is at 1.47 which may stop the price from falling further in case the bears will win this week. Notice also that GERI’s Kijun Sen line is moving horizontally at 1.385 which may help the bears in pulling the price downwards.

While we still have the Ichimoku elements in green light, the correction might be an opportunity for us to add more shares. Let us monitor the price movement before we will talk about the possibility of GERI hitting 2.50

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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