Chart Check: After over 50% rally in a month, should you reserve revenues or purchase this customer electronic stock?

Synopsis Dixon Technologies’ stock has actually risen 50% in a month on strong volumes, and professionals think the rally might continue. The momentum assisted the stock climb above the 50- and 200-day moving averages on the everyday charts. The Relative Strength Index (RSI) suggests that the stock is in the overbought zone. Short-term traders ought to search for chances to include the stock on decreases for a possible target above INR6,000 ($81) in the next 3 months. Dixon’s stock is trading above the upper Bollinger Band, suggesting a volatility and uptrend breakout. Volumes have actually likewise been above average because May.ETMarkets.comThe stock cost of Dixon Technologies, a customer electronic devices business, soared 50% in a month on strong volumes, and passing the chart structure the rally might not be over yet, recommend specialists. The stock increased from Rs 2,912 as on 16th May 2023 to Rs 4,546 taped on 16th June 2023 which equates into an advantage of 56% in a month. Short-term traders can seek to include or build up the stock on decreases for a possible target above Rs 6,000 in the next 3 months, recommend professionals. The stock struck a fresh 52-week high of Rs 4,722 as on 19th June 2023. The stock increased more than 14% in a week and over 60% in the last 3 months. The momentum assisted the stock to climb up above the 50-DMA in May and 200-DMA in the month of June on the day-to-day charts. The momentum has actually pressed the stock towards the overbought zone; thus, some pullback might be on the cards. The Relative Strength Index (RSI) is 86.7 on the everyday charts. RSI above 80 is thought about highly overbought. This suggests that the stock might reveal a pullback. On the month-to-month chart, the RSI never ever dropped listed below 40, suggesting that it never ever went into a bearish zone. The RSI breaking above the coming down trendline includes another factor for the stock to reverse. The month of May closed above 36-SMA, which represents the average of the previous 36 months, and June is al
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