The GEO Group, Inc. provides government-outsourced services
specializing in the management of correctional, detention, and re-entry
facilities, and the provision of community based services and youth
services in the United States, Australia, South Africa, the United
Kingdom, and Canada. It operates through four segments: U.S. Corrections
& Detention, GEO Community Services, International Services, and
Facility Construction & Design. The company owns, leases, and
operates a range of correctional and detention facilities, including
maximum, medium, and minimum security prisons; immigration detention
centers; minimum security detention centers; and community based
re-entry facilities.
Take a look at the 1-year chart of GEO (NYSE: GEO) with the added notations:
After declining steadily since April of 2015, GEO has bounced on a
clear $25.50 support (green) during the most recent 2 months. Now that
the stock appears to be testing that support level again, traders should
be able to expect some sort of bounce. However, if the $25.50 support
were to break, lower prices should follow.
The Tale of the Tape: GEO has a key level of support
at $25.50. A trader could enter a long position at $25.50 with a stop
placed under the level. If the stock were to break below the support a
short position could be entered instead.
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