Topic Statement:
Dixon has rebounded strongly in line with the broader market rally but now approaches critical resistance levels that may cap further upside.
Key Points:
1. The stock retraced to the 38.2% Fibonacci level where it found strong support and resumed its upward move
2. The 50-day EMA acted as a deflection point, offering additional support during the recovery
3. Price is now at its lifetime high near the 18,000 mark, where a double top candlestick pattern is forming
4. The double top indicates significant resistance, making it a potential shorting opportunity unless a breakout confirms further bullishness
Dixon has rebounded strongly in line with the broader market rally but now approaches critical resistance levels that may cap further upside.
Key Points:
1. The stock retraced to the 38.2% Fibonacci level where it found strong support and resumed its upward move
2. The 50-day EMA acted as a deflection point, offering additional support during the recovery
3. Price is now at its lifetime high near the 18,000 mark, where a double top candlestick pattern is forming
4. The double top indicates significant resistance, making it a potential shorting opportunity unless a breakout confirms further bullishness
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.