Geo Group Inc. (NYSE:GEO) shares were rallying Wednesday as retail traders continue to push stocks with high short interest.

Geo Group stock is trading on above-average volume and trending on social media sites. The stock has a public float of 118 million shares and a short percentage of 34.11%.

Geo Group Daily Chart Analysis

• The stock pulled back in recent months, forming what technical traders call a falling wedge pattern, before breaking out of it Wednesday.
• The stock is trading above the 50-day moving average (green), and crossed above the 200-day moving average (blue) Wednesday, indicating sentiment in the stock is likely turning bullish.
• Each of these moving averages may hold as an area of support in the future.

Key Geo Group Levels To Watch

What’s Next For Geo Group? 

Bullish technical traders would like to see the stock consolidate while holding some of its gains. A period of consolidation may let the stock see a further upward push.

Bearish technical traders would like to see the stock fall back to the wedge pattern. If the stock were to break below the support in the pattern, it may be prone to see another large dropoff.