dr reddy short sell

6 Nis 2023

Overall in weekly and monthly it is bullish.
It's away from the moving averages.
It is suggesting a breakout which is a fakeout as it does not correlates with the moving averages.
the target should be 60% fib retracement which is 4520 appx.
then it should have a target of above 4700.

Let's se if it happens. if i can understand what i have learnt in all these years.

cheers,
Manu

6 Nis 2023

Not

a stock can move away from the moving "averages but it cannot stay away from the moving averages" (Oliver velez)

6 Nis 2023

Not

You can see a diversion too but it happened because the stock is away from the moving averages.