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No, a geostationary orbit must be in the plane of the Earth's equator. That way, by matching its orbital speed with the speed of a point on the equator, the moving satellite appears to be stationary over that point. Any other orbit would have the satellite appear to drift above and below the equator during the course of a day.
'Physics is mathematical not because we know so much about the physical world, but because we know so little; it is only its mathematical properties that we can discover.'