Stock Opportunity: Reliance Consolidation Breakout
Back in December 2023, Reliance gave a major breakout after a 2-year consolidation period and has since rallied 23%. Currently, the stock is trading near its previous breakout level, from which it reversed three times in the past, signaling a potential opportunity for further upside.
However, investors should be cautious as the stock is trading below its 200 EMA on the daily timeframe. While the fundamentals remain strong, it's essential to keep an eye on technical levels and manage risk accordingly.
Stay informed and trade smart! 📊⚠️
However, investors should be cautious as the stock is trading below its 200 EMA on the daily timeframe. While the fundamentals remain strong, it's essential to keep an eye on technical levels and manage risk accordingly.
Stay informed and trade smart! 📊⚠️
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