RELI price prediction for today bearish or bullish

Reliance Global Group's stock (RELI) is currently exhibiting bearish signals. Here's the analysis to support this conclusion:

1. Recent Performance: RELI has experienced a significant downturn, with its stock price hitting a 52-week low of $2.34, reflecting a staggering 1-year change of -93.95%. This indicates a strong bearish trend in the recent past.

2. Technical Indicators:
   • The Moving Average Convergence Divergence (MACD) is at 0.02, which is relatively low and could suggest a bearish trend.
   • The Relative Strength Index (RSI) is at 15.71, which is close to the oversold threshold of 30, but it's still below it, indicating that the stock is not in an extreme oversold condition that would suggest a potential reversal.
   • The KDJ indicator is at 11.06, which is quite low and could suggest an oversold condition. However, it's below 50, which typically indicates a bearish momentum.

3. Support and Resistance Levels: The stock is currently without a support level, which could indicate that it's in a vulnerable position with no clear floor to prevent further declines. The resistance level is not provided, but the absence of a support level is a bearish sign.

4. Fibonacci Retracement: The 0.618 Fibonacci Retracement over the past year is at $7.39, which is significantly higher than the current price, suggesting that the stock has ample room to decline before reaching a potential support level based on this analysis.

5. Market Sentiment: The overall market sentiment towards Reliance Global Group appears to be cautious, with analysts expressing concerns about the company's financial health and the potential for further declines.

In conclusion, the technical indicators and recent performance suggest that RELI's stock is currently on a bearish trajectory.