GEO - yet to meet resistance

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GEO =

GEO continues to be run by bulls with no resistance yet in sight.

Support: 130,65MA
Resistance: possibly at 2.9


If we are to take into account GEO's momentum as measure in the short term by the stochastic it will be noted that GEO is overbought (95.8). RSI is nearing the overbought level likewise (69). It is prudent to take into account that RSI and stochastic are not reliable when an issue is trending. GEO is confirmed as trending bullishly by the MACD which has been trading above the zero level for 6 days for the fast line and 2 days for the slower line to signal a possible buy-long.

If GEO will weaken its momentum we might see a dip in the stochastic then the RSI, if the trend reverses the MACD will most likely follow.

Note: 130MA is above 65MA which is above the 32MA.

Good luck to all GEO traders :)

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