Stock : Dixon Technologies.
cmp :- 4050.00 (08/06/2023)
About : Dixon Technologies (India) Limited has been leading the electronic manufacturing services (EMS) space in India.
TECHNICAL ANALYSIS CHART 👇(WEEKLY TIME FRAME ).
(click on above image for clear chart view)
OBSERVATION :
The stock has been in DOWN TREND since 18th OCT 2021 making (higher lows &lowers high) and can see a FLAG AND POLE PATTERN which indicates a bullishness in stock, it has also give a breakout of its trendline and getting retest. The stock is also taking a good support to its 50DAYS moving average & trading near its resistance of 100 DAYS moving average. If 1 week candle closes above (4220) we may expect further up side moment to
(5,250 / 6,610 / 7,650 / 8,689).
You may add this to your watchlist to understand further price action.
How does FLAG & POLE PATTERNS works? (click here)
Note : It's important to note that the pattern is just one of many chart patterns used in technical analysis, and traders should always use multiple indicators and techniques to confirm their analysis before making trading decisions
Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
No comments:
Post a Comment