GEOD’s move #突破形态 has been pretty clean. It spent the previous 6 days consolidating in a tight range between 0.2255 and 0.2519, then last night a single 4H candle surged on strong volume to 0.2881, closing at 0.2770.
Volume backs it up: 24-hour trading volume hit 84 million, nearly 4 times the average of the previous few days—not a low-volume sneak attack. MA7 has just turned up and crossed above MA25, and MACD has also formed a golden cross. However, RSI is already at 74.7, so be cautious about chasing the price higher.
If it holds above 0.2519, the pattern is confirmed, with 0.2881 as the first level to watch above. If it falls back into the range, that would be a false breakout, and the consolidation will continue. $GEOD
Volume backs it up: 24-hour trading volume hit 84 million, nearly 4 times the average of the previous few days—not a low-volume sneak attack. MA7 has just turned up and crossed above MA25, and MACD has also formed a golden cross. However, RSI is already at 74.7, so be cautious about chasing the price higher.
If it holds above 0.2519, the pattern is confirmed, with 0.2881 as the first level to watch above. If it falls back into the range, that would be a false breakout, and the consolidation will continue. $GEOD
