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The fibonacci fan shows that the stock is finding resistance at 1.5. If it is unable to cross this level, then it might decline to 1.40. However, if the resistance is crossed on closing basis, then the stock may rise to 1.54 i.e. 30 DMA. The stock is currently in a downtrend, however, if the 30 DMA is taken out, then the trend would become neutral/sideways.
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