USe this rally to exit ut longs
BSOFT CMP 666 - Traders & Investors
Fibs- The stock rallied from the lows of 560 to 756. Two imp points to be noted. First the stock halted at 61.8% of the fall indicating that weakness still persists. Second the RSI halted in the bear zone.
Elliott- the curent rally will halt again a the 756 zone and form a Flat corrective pattern which will is denoted as X. From here a fresh three wave fall should start.
Conclusion - At 756 we will again look at all our other indicators to support out case. Beware as the next leg of fall will be deeper.
Fibs- The stock rallied from the lows of 560 to 756. Two imp points to be noted. First the stock halted at 61.8% of the fall indicating that weakness still persists. Second the RSI halted in the bear zone.
Elliott- the curent rally will halt again a the 756 zone and form a Flat corrective pattern which will is denoted as X. From here a fresh three wave fall should start.
Conclusion - At 756 we will again look at all our other indicators to support out case. Beware as the next leg of fall will be deeper.
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