Dixon Tech either buy or wait to buy??

Nov 11

Dixon is trading in a parallel channel for a while and now it is holding on to the higher levels.

The company is a EMS (Electronic Manufacturing Services) and provides them to the listed companies.

On the monthly charts, the stock has been travelling and given 150% returns in the current year.

Much of the movement is given this year and still the targets of 20k is being recommended by some rating services company.

As for now the stock is holding on to the higher levels and creating a Flag and pole pattern.

400 points range the stock is consolidating and the bullish flag break out can take the stock to the higher levels.

A low volume accumulation in happening in the stock and the target levels of around 17800 can be seen in the coming weeks.

Targets :- 16700, 17700

Wait for the price action around the break out level and enter as per the setup.