Magic-Charts

$GEO going for $8+ - The Geo Group REIT

Long
NYSE:GEO   Geo Group Inc (The) REIT
Is GEO about to to go on a small run?

It looks like GEO may have just experienced wave one of an uptrend and is looking to continue that trend with wave 2. It briefly broke it’s this trend on July 19th but quickly hoped back on board and has been holding true since and has formed a nice level of support at $6.61. As of the 28th we appear to have broken out of the downwards trending dynamic resistance line that had started on the 19th of June after a rather large peak and selloff.

If the trend line holds true I believe we could see $GEO reaching over $8 in the coming weeks. Currently resistance at $7. 01 is proving hard to break with a few runs taken at it on the 4hr chart. Keep an eye on the resistance zones as we progress through the range.


* This Content is for informational purposes only, you should not construe any such information or other material as investment, financial, or other advice.
Trade closed manually: Closed manually to look into $SAM trade

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