DIXON trade ideas
DIXON TECH | BREAKOUT 4TH ATTEMPT | CLOSING 52-WEEK HIGHDixon Technologies breakout in Daily timeframe | 4th attempt at breakout closing in on the 52-week high , closing above the resistance should be an upmove toomrrow | trade only after analyzing price action might have a small retracement towards the support and then go back up.
Swing Opportunity in Dixon TechnologiesGo Long above 4260.1 for Targets of 4704.2 and 5148.3 with SL 3816
Reason to go Long :
1. The stock formed a Bullish chart pattern ( Cup & Handle ) and it gave breakout with high volumes.
2. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
DIXON - ASCENDING TRIANGLE (VCP)SCRIP: DIXON
Ascending triangle (VCP) observed in NSE:DIXON. Supply getting exhausted and breakout is imminent.
Scrip is fundamentally very strong and the past trend confirms stock's future movement.
Disclaimer: The idea is not to be construed or observed as advise to buy/sell the said scrip. It is for educational and information purposes only.
DIXONNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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Keep an eye ladies and gentlemen. Cheers and Happy Trading
Dixon Bullish, reversing to the mean line in the channel.Dixon has taken support around the baseline of a long term channel.
MACD has already indicated a reversal and the price is headed to the meanline which is atleast 5000.
Target- 5000
SL- 3900.
The view is supported by observation of move on Q4FY21 results day. This exhibited Long-Building behaviour on that day and since then maintaining uptrend.