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
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
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.