GEO: Michael Burry bought more
Actualizado
GEO
Michael Burry has bought more shares of this REIT so I thought I'd give a look at the chart for those who want to follow him.
What the chart is saying:
Big downtrend since May 2017. In May 2021, the stock has started a consolidation/base in form of a range between 5.5 and 9.54.
This range could be a bottom formation.
Note that bottoming pattern takes time and this one could continue for a few more weeks/months. However a break out of the range (9.54) could confirm a change of trend and a long trade/investment.
Keep monitoring this stock in the next few days/weeks, set an alert at the top of the range. If it breaks out of the range, the first potential targets are 11, 13.90 and 17.
I remain neutral for now. On watch.
Michael Burry has bought more shares of this REIT so I thought I'd give a look at the chart for those who want to follow him.
What the chart is saying:
Big downtrend since May 2017. In May 2021, the stock has started a consolidation/base in form of a range between 5.5 and 9.54.
This range could be a bottom formation.
Note that bottoming pattern takes time and this one could continue for a few more weeks/months. However a break out of the range (9.54) could confirm a change of trend and a long trade/investment.
Keep monitoring this stock in the next few days/weeks, set an alert at the top of the range. If it breaks out of the range, the first potential targets are 11, 13.90 and 17.
I remain neutral for now. On watch.
Operación activa
LONG on the break outOperación activa
Wow, nice breakout, 1st target reached.Operación activa
We're now above the 1st target. RSI entering overbought zone. TD sequential 9 on weekly. If you're in a short term trade, be cautious, as it could cool off and retrace. Not impossible to return to the scene of the crime, ie 9.54 or a bit higher, before going up again. Anyway, hard to know, I could be wrong too, but please manage your risk.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.