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The GEO Group, Inc. Message Board

  • inplay722 inplay722 Apr 21, 2010 10:42 PM Flag

    GEO long idea

    I am bullish on GEO, it isn’t necessarily a favorite but having a chart illustrates the point more easily. The stock has had 2 high volume attempts to take it down, one in early March, the 2nd just a few days ago. It had been making higher lows in the process
    with a flat resistance line overhead, also known as an ascending triangle pattern. Normally I would like the two lines to be closer together almost into a point, but what I like about this is the high level of sell volume into the lower line. The red volume bars stand out from the rest. That suggest an over commitment by the shorts, and no follow through to the downside. Now we have volume picking up to the upside as it approaches the upper line. Shorts are trapped and will need an out, especially if it breaks 20.25 which is my long trigger. A simple supply/demand situation.

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23.46-0.22(-0.93%)Sep 28 4:02 PMEDT