Bank AI

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>BGEO PLC stock price: The stock price has experienced a bullish phase for more than one and a half years.</a> </li> 
 <li> <span>2</span> <a>The company is experiencing strong financial growth and earning respect in the market.</a> </li> 
 <li> <span>3</span> <a>The current price is moving toward its immediate support level, know the prediction below.&nbsp;&nbsp;</a> </li> 
</ul> 
<p>The Bank of Georgia Group plc (LON: BGEO) stock has just made an all-time high. The BGEO stock price has been on a downtrend since March 2022. It is more than a year of continuous bullish sentiment in the market. While there is no such positive news for this company in the market, the credit of the price surge goes solely to its fundamentals. The firm reports continuous profits in its quarterly and yearly reports.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-uncovering-the-reason-behind-the-uptrend-strong"><strong>Uncovering the reason behind the uptrend</strong></h2> 
<p>The company’s profits for the first half of 2023 increased significantly by 44%, reaching £317 million compared to £219 million in the previous year. Additionally, the profit before income tax and one-off expenses improved by an impressive 80%.&nbsp;</p> 
<p>Furthermore, the company’s income before interest and taxes (EBIT) surged by 38%, reaching £142 million from £82 million in 2022. The net income increased significantly, growing by 79% to £126 million from £73 million. Given the surge in profits, the company announced an interim dividend of £0.94 for the current financial year-end.</p> 
<h3 class="wp-block-heading" id="strong-the-improvement-in-the-economy-strong"><strong>The improvement in the economy</strong></h3> 
<p>The bank said that things are looking positive for Georgia’s economy. The country’s monetary bodies are doing well, and banks are healthily lending money. Georgia is also spending money carefully and ensuring inflation stays low by keeping the returns above the Weighted average cost of capital (WACC).&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-bgeo-stock-price-strong"><strong>Technical Analysis and Prediction of BGEO Stock Price</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="488" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-800-1024x488.png" alt="BGEO Stock Price: In an Uptrend for More Than a Year, What’s Next?" class="wp-image-171170" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-800-1024x488.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-800-300x143.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-800-768x366.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-800-1536x732.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-800-750x358.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-800-1140x544.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-800.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Chart provided by <a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=LSE%3ABGEO">TradingView</a> (daily time frame)
  </figcaption>
 </figure>
</div> 
<p>As of this writing, the <a href="https://www.thecoinrepublic.com/2023/09/21/hln-stock-price-bears-gave-up-after-the-reinforcement-of-50-ema/" target="_blank" rel="noreferrer noopener">BGEO stock</a> price is trading at £3630. The stock is seen going to its immediate support level of £3375 after the bears reclaimed the resistance of £3755. Breaking these immediate levels will result in the price moving toward its 2nd support and resistance levels, which are at £3075 and £4000, respectively.</p> 
<p>Apart from the pivot levels, the RSI indicator shows a consolidation trend trailing near its overbought level of 70. The RSI spiked off from its overbought level just a week ago, which made it come down to 58. The trend started reversing as the RSI fell. At present, It is on the verge of making a bearish crossover with its Simple moving average (SMA) line.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>The BGEO stock price started rising more than a year ago. During its uptrend, the company also delivered positive financial reports. The firm also reported favorable economic conditions and ideal momentary ratios. At present, the stock is seen moving towards its support level. The price prediction from the technical analysis is bullish. The stock is likely to make a rebound from its support level of £3375.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support: £3755, and&nbsp; £4000</p> 
<p>Resistance: £3375, and £3060</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

BGEO Stock Price: In an Uptrend for More Than a Year, What’s Next?

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