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 in the stock market. Let me tell you why.
From my technical analysis, GERI looks to have been forming a double bottom chart 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 chart pattern 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.