seems consolidation is complete ready to give bigger break out fundamentally strong one can think of taking position for EDUCATIONAL purpose only
Alkem is showing volume increase , looks like a major breakout is on cards. for education purpose only.
If one looks at daily, clear exhaustion of momentum. Similar pattern one can see on weekly 2017-2018. Used harmonics ( I do not what one calls it , to me all looks same , BAT, Butterfly - have mirror wings) to a more comfortable collction range. channel is LT so a stock like could be a looked as investment. Levels are determined as chart is showing and tools...
I have observed that short term moving average is going to cross medium term moving average and now stock is yet crucial resistance levels. So once it sustains 3000 to 3300+ can be seen in short periods.
In consolidation phase. Possible breakout soon.
This Analysis Is Done Only For Educational & Intelligence Purpose, Invest Or Trade At your Own Risk & Will.
See chart for targets and stoploss
Solid Reversal from the Support Zone. Previous Structure was Bullish and Price was inside the Range. Long above Level market for Targets marked with Green Dots
yellow lines are showing the key levels. alkem should be in the watch list. it's a time for a reversal.
will reverse in trend after 900 closing only , till then extremely weAK
better to stay long on dip in the counter , looks set for a 50% or more upside ! in couple of months !