Last July, Global-Estate Resorts, Inc. (GERI) broke out from a 6-month symmetrical triangle formation which propelled its stock price to surge by more than 30% within 2 months. If you notice the symmetrical triangle flirted nicely with the 50 and 100-day moving averages. A bullish crossover on the MACD came along with the triangle breakout as well.
At current, GERI could be making another bullish area pattern which is the falling wedge, accompanied by the diminishing volume. If this is indeed one, based on the pattern’s size, a successful breakout could drive the stocks back to its PHP3.06 all-time high.If that gets broken, the next target could be the PHP3.50 psychological resistance.
For some, a break above the falling wedge’s resistance could be a great entry point. Some would also find the current price a strategic buy. Either ways, in case I’d place a long position on this, I’ll set my stop loss below the 1-year uptrend line. Still, with the uncertainty and volatility in the global markets, it would be wise to lessen your market exposure or even better and safer, stay liquid!
Related posts:
- Global-Estate Resorts, Inc. Paced For A Move Higher? Andrew Tan-led Global-Estate Resorts, Inc. (GERI), formerly known as Fil-Estate…
- Fil-Estate Land (LND) Soared as Alliance Global Buys 50% Stake It was a jolly Christmas indeed for the holders of…
- More Upside Seen On Fil-Estate Land (LND) Part 2 Fil-Estate Land (GERI) hit the stock market headlines once again…
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