January 16, 2013

Reliance Communication update

  • RCOM Continue to move up above the trend line. 
  • Price breaking above the Golden ratio and the Weekly cloud These two levels need to be held on a closing basis to confirm breakout.
  • Last chart shows negative divergence in daily chart. One has to play this with caution as divergences does not perform well when the stock or index is in a trending move.

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