BGEO Potential Breakdown (Bank of Georgia)BGEO has been in a nice uptrend for some time now but is it really the time to switch the flip now? What we see on a chart is a healthy correction and touching the trendline support but there is a big BUT. Amidst this current situation in Georgia, Tbilisi, people has been protesting the "Russian Law" which turned now into protesting the government itself. This could be start of the breakdown for LSE:BGEO in my opinion because the situation is only gonna get worse for Tbilisi if government keeps going against the people.
Bog
One more test of 6200 ?We are currently holding our shorts looking to ladder buy orders and flip into a long between 6300-6150
We see long term resistence and support holding this is just a matter of seeing which direction we break first
For CWN the answer seems Clear, with current conditions after this last move down we expect a strong move up
~Gemini