Dixon Tech either buy or wait to buy??

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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.

交易开始

The stock is halting around the resistance zone.

If there is a break out above 16k, the stock can give a nice upside move.

Otherwise, there will be a fake out and failure of the pattern, a downside trend move can be captured once the previous support is taken out.

Watch the movement and trade accordingly.

注释

The gap away movement in the stock and it travelled to touch our first target and held on to the levels.

Dixon Tech gave a good momentum sustaining around the resistance zone.

Partial profits must be booked by the new traders and the pros can hold the stock for the next target levels.

After testing the resistance zone the are possibility of a retest or good movement upside.

Watch for the price action and trade accordingly.

注释

The stock has been holding on the higher levels and given target 2 of 17700 (approx).

Trader still holding the stock in cash can wait for another break out or trail there SL.

Once the levels is gone another upside target will be around 18250 (fib level).

Keep trading and book according to your R:R ratio.

Wait for the break out and exit as per your risk appetite.