Use sl 2650 target 3000 & 3150 good luck all
seems consolidation is complete ready to give bigger break out fundamentally strong one can think of taking position for EDUCATIONAL purpose only
My wave analysis suggest a nice buy coming soon for 700 points.. Positional trades like myself, be ready for this trade. If any questions, do ask. IF you LIKE my analysis, do click LIKE BUTTON, so that it reaches more traders. Happy Trading.
Alkem lab moving in an Ascending channel and looks gd for upside. #positional Buy alkem at 3006 Add in dips till 2880 Tgt: 3250, 3550, 3800+ Sl: 2580 Timeframe: 3-4 months
Inverse Head and Shoulder pattern breakout happened in ALKEM daily chart . Overhead resistance was visible around 3090. However heavy volume action is not visible yet. Depending on overall market sentiment it might go up.
Alkem is showing volume increase , looks like a major breakout is on cards. for education purpose only.
Ascending Triangle forming on Daily Chart of ALKEM LABS. BUY 3000.1, SL 2849.9, Target(s) - ATH, 3150, 3200. I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
looks like alkem is ready for a good breakout - above 3030 levels. after head & shoulder pattern formation - target 3300
ALKEM Weekly RSI close above 55 + daily RSI > Weekly RSI + Daily ADX > 25, Momentum may be continuous from here. exit - Close below EMA_34 or Daily RSI close below 45 or Daily ADX close below 25.
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...
Disclaimer: This not a stock recommendation, just sharing my views
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.