Geofencing is static, however the answer to your questions is yes, it is possible. When a device enters the geofenced area and they click on the ad, that device is registered. When that device leaves the area and as the days and weeks go by that device because it's registered will be re-targeted.
What a great question. Yes re-targeting can be done with Geofencing and the frequency of the re-targeting can be set and adjusted. This is one of many benefits of advertising to mobile devices. This lends itself to branding a business and creating top of mind awareness for when the consumer needs the product or service. The church bells ring to remind us of going to church. Our parents asked us when we were children did you brush our teeth. Re-targeting is required to have a successful campaign.
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