RELIANCE STOCK
THE PSYCHOLOGY BEHIND THE EXPANDING TRIANGLE IS THE B WAVE WHICH WE ARE IN CURRENTLY BROKE THE TOP DUE TO THE PARTNERSHIPS AMBANI HAS BEEN ROUNDING UP , BUT THIS IS ALL FAKE MONEY OR THE MONEY THAT PEOPLE HAVE SAVED UP THAT IS FLOWING INTO THE MARKET ANTICIPATING RETURNS DUE TO SOME GREAT FUNDAMENTALS DURING THE PANDEMIC. BUT THE TOP HAS BEEN BROKEN TO ONLY LURE PEOPLE IN ( FOMO ) RETAILERS , SOME HUGE PLAYERS AND THE INNOCENT ONES WHO WANT TO MAKE SOME PASSIVE INCOME DURING THE PANDEMIC. THIS IS A DEAD CAT BOUNCE AND I AM GOING TO SHORT IT BACK TO 1000'S. THIS IS ONLY MY OPINION , YOU DO NOT HAVE TO AGREE WITH IT. BUT FROM A TECHNICAL PERSPECTIVE THE CHART LOOKS LIKE SHIT , AND THE IDEA OF EXPANDING IS THAT THE DOWNWARD TRENDING WAVES ARE THE LARGER AS THEY FORM. SO C SHOULD BE LARGER THAN A AND E SHOULD BE LARGER THAN A AND C . IF YOU LOOK AT THE US MARKET THE PA ( PRICE ACTION OF S&P 500 ) IS QUITE SIMILAR WITH RELIANCE , EXCEPT RELIANCE IS A LOW TRADED MARKET. ( LESS VOLUME ) CHART LOOKS GARBAGE. SO BASED ON THE PSYCHOLOGICAL REASON AND TECHNICAL REASONS I HAVE COME TO A CONCLUSION THAT THE PRICE IS GOING TO CONTRACT FOR THE NEXT 3-4 YEARS DESTROYING PEOPLE'S PORTFOLIOS BEFORE CONTINUING FOR THE FINAL SEGMENT W5. THIS SHOULD NOT BE DEEMED AS A FINANCIAL ADVICE AT ANY GIVEN TIME , THIS IS ONLY MY OPINION. THANK YOU , CONSTRUCTIVE CRITICISM IS WARMLY WELCOMED.
PP
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.