Strong Bullish Rectangle Pattern Breakout in Dixon
A very strong Bullish Rectangle Pattern formed in Dixon.
A bullish rectangle pattern forms when a share that is in uptrend, pauses its trend and goes on a consolidation zone for sometime and then breaks out again to continue the uptrend.
You can see the chart was in uptrend for a long time and then it has entered into a consolidation zone between 3,480 and 4,760. Now 4,760 is broken with a good volume confirming the pattern.
Share might retrace to retest the 4,670 level and then resume its uptrend.
This post is for education purpose only, please do your own analysis before taking any positions.
A bullish rectangle pattern forms when a share that is in uptrend, pauses its trend and goes on a consolidation zone for sometime and then breaks out again to continue the uptrend.
You can see the chart was in uptrend for a long time and then it has entered into a consolidation zone between 3,480 and 4,760. Now 4,760 is broken with a good volume confirming the pattern.
Share might retrace to retest the 4,670 level and then resume its uptrend.
This post is for education purpose only, please do your own analysis before taking any positions.
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