Andrew Tan’s Global-Estate Resorts, Inc. (GERI), formerly known as Fil-Estate Land, Inc., (LND) appears to be on track to move even higher in the coming days or weeks. Let me tell you why.
From a technical standpoint, GERI looks to have been forming a double bottom pattern as you can see in its daily chart above. Consequently, its trading volume over the same time period also shows a similar pattern which is very typical of a major move that is about to happen soon. In any case, a critical resistance at PHP2.40 needs to be taken out. A break above this level could send GERI to at least PHP2.80 (gauged by projecting the height of the formation from the point of possible breakout). A fall below PHP2.20, on the one hand, could pull it down to PHP2.0.
Given its present set-up, GERI looks to be ripe for a ‘breakout’ in the days to come. Let’s see if this will happen.
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