The directional V shaped signal
Dr Reddy CMP 1246
Fib Analysis- I have done fib analysis on the three major swings in this counter. The first swing correction halted at 61.8%. this was an indication that the bull trend was weakening.
The second swing correction halted at 50% taken from top and bottom. this was an indication that the stock was not expanding.
The 3rd swing correction halted at 38.2% the grid forming from top and bottom of the swing.
This swing has something more it is a directional signal which is an inverted V.
Hence to me the uptrend is over. Since the stock has halted at support we will witness a rally, but this rally will the last opportunity to exit this counter.
Fib Analysis- I have done fib analysis on the three major swings in this counter. The first swing correction halted at 61.8%. this was an indication that the bull trend was weakening.
The second swing correction halted at 50% taken from top and bottom. this was an indication that the stock was not expanding.
The 3rd swing correction halted at 38.2% the grid forming from top and bottom of the swing.
This swing has something more it is a directional signal which is an inverted V.
Hence to me the uptrend is over. Since the stock has halted at support we will witness a rally, but this rally will the last opportunity to exit this counter.
Penafian
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