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Thursday, January 10, 2008

GEO: Falling Wedge (part 3)

Yesterday, I posted about GEO breakout from the falling wedge pattern. I have not seen huge volume but the issue went up today confirming the breakout yesterday.

Now, I would like to see how this issue play along the Fibonacci Ratios

0% - 1.68
23.6% - 1.80
38.2% - 1.88
61.8% - 1.98
100% - 2.18

Well, it did touch the 1.80 (23.6%) today.

Falling Wedge Pattern
GEO Chart as of January 10, 2008

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