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:
- The stock retraced to the 38.2% Fibonacci level where it found strong support and resumed its upward move
- The 50-day EMA acted as a deflection point, offering additional support during the recovery
- Price is now at its lifetime high near the 18,000 mark, where a double top candlestick pattern is forming
- The double top indicates significant resistance, making it a potential shorting opportunity unless a breakout confirms further bullishness
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Disclaimer
This article should not be interpreted as investment advice. For any investment decisions, consult a reputable financial advisor. The author and publisher are not responsible for any losses incurred by investors or traders based on the information provided.