Alkem Laboratories Limited (ALKEM) Stock - Complete Technical Analysis - Sep 17, 2024

Alkem Laboratories Limited (ALKEM) Stock Analysis Key Support & Resistance Levels

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Alkem Laboratories Limited (ALKEM) is currently trading at 6,217, just 3.46% below its 52-week high and a remarkable 80.36% above its 52-week low. The stock has shown a strong uptrend, confirmed by a high ADX value, indicating significant trend strength. The RSI sits in bullish territory, suggesting that upward momentum remains intact, though the Stochastic %K indicates some potential cooling off in the near term.

The MACD is strongly positive, reinforcing the bullish outlook, while momentum indicators and the Awesome Oscillator show continued upward force, but with a possible slowdown as price consolidates. The Williams Percent Range confirms that the stock is neither overbought nor oversold, signaling room for further movement. Moving averages, including the 50-day and 200-day EMAs, are aligned positively, indicating long-term bullish sentiment.

Support is found around 6000 and 5800, with resistance levels near 6400. A breakout above 6400 could push the stock into new highs, while a drop below 6000 may signal a short-term correction. Traders should watch for any volume spikes or a shift in momentum to confirm future moves.