Opportunity to buy on dips

GERI is trying to comeback touching the 23.6% Fibonacci Retracement level. It close yesterday at 1.90 per share. Today we’ve seen some bulls trying to outrun the bears but their power is not enough. Still, it left us with a bullish candlestick pattern called Harami. This is not a strong reversal pattern so we need a confirmation. If price will rise and close above the 1.95 (Kijun Sen line) then we might see GERI move up and challenge again the 2.1x level. Else, we will see GERI seek the support from 1.81 per share.

Based on Ichimoku system, GERI is in a bullish mood so any dip should be an opportunity to buy.

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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