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Dixon Technologies (India) Limited (DIXON) Stock - Complete Technical Analysis - Sep 04, 2024

Dixon Technologies (DIXON) Stock Analysis: Key Levels

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Let's dive into the technical analysis for Dixon Technologies (India) Limited (DIXON). Currently trading at 12,778, the stock exhibits several key technical features.

Starting with moving averages, the stock is currently below its shorter-term moving averages but above the longer-term ones. The 10-day EMA is at 12,893.51, while the 20-day EMA is 12,652.18. The 50-day and 100-day EMAs are positioned at 11,958.66 and 10,816.33 respectively, indicating a mixed trend. The stock's current position relative to these moving averages suggests a potential area of support near the 20-day EMA and resistance near the 10-day EMA.

The support and resistance levels based on classic, Camarilla, Fibonacci, and Woodie pivots suggest:

Support: The key support levels to watch are around 12,294 (Camarilla S1), 12,586 (Classic Pivot), and 11,534 (Classic S1).

Resistance: Resistance levels are marked around 13,417 (Camarilla R1), 13,664 (Camarilla R2), and 14,223 (Classic R1).

The Average Directional Index (ADX) is at 28.45, reflecting a strong trend in the stock. The Relative Strength Index (RSI) stands at 54.89, which indicates that the stock is neither overbought nor oversold, suggesting a stable momentum.

In terms of chart patterns, a Bearish Harami pattern has formed, indicating potential for a bearish reversal in the short term. The Awesome Oscillator is positive, suggesting bullish momentum, while the MACD level is quite high, signaling strength in the prevailing trend.

The Stochastic RSI is quite low, indicating that the stock could be in an oversold condition, which might be a sign for potential rebound or consolidation. Additionally, the Commodity Channel Index (CCI) is positive, suggesting that the stock is above its average price.

Finally, the ATR is relatively high, pointing to increased volatility, which traders should consider when planning trades.

In summary, Dixon Technologies is currently experiencing mixed signals with potential for both upward and downward movement. Traders should watch for support and resistance levels, and be cautious of the bearish pattern observed.





 

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