Dixon : Fibonacci Daily Timeframe Analysis

Dixon is following Fibonacci levels perfectly for long and short durations.
1. Long duration Trend based Fibonacci extension: Started Sept 2019 and ended at Jan 23
2. Short duration / recent Trend based Fibonacci extension: Started June 2024 and ends at July 2024

Strock behaviour:
- Stock is following trend lines and Fibonacci trend-based extension levels.
- Currently at 1.618 level of short duration Trend based Fibonacci extension, which will act as a resistance at 17,763
- Also at 2.618 level of long duration Trend based Fibonacci extension, which will act as a resistance at 17,650
- In addition top trend line should act as a resistance

Expectation:
- Stock should take resistance at these levels and should retrace to retest 20 EMA on daily timeframe.
- Need more than average volume to break these levels
- Lower levels to keep an eye L1- 16,600 and L2 16,000
- Once break out resistance level of 17,700 with volume will test Target L1 - 22,300 and Target L2 23,400