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Geo Energy: Will It Remain Uptrend In A Weak Market?
Trend Spotting | 07 June 2013
By: Robin Han
Articles (102) Profile

Geo Energy Resources (Geo Energy) had moved down over the last four months. Recently, however, it managed to break above the resisting trend line with a nice uptrend despite a severe and fearsome sell-off in Straits Times Index (STI).

Though Geo Energy pulled back over the past two days, it is considered strong as compared to the significant drop in STI. While STI dropped 50 points, Geo Energy only dropped slightly with low trading volume, indicating that the sellers are weak.

It is relatively safe to buy Geo Energy during a pull back. The risk is low and if it resumes the uptrend, the profit can be quite attractive. One may consider buying on weakness during a pull back and expect the stock to continue with an uptrend.

Robin Han is a Ph.D in Department of Chemical and Biomolecular Engineering and has got a solid foundation in the financial markets.

Please click here for more information about this author.

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