ALEMBICLTD trade ideas
Alembic limited, consolidation going on Technical- Price is in uptrend but rsi is in downtrend , signal for price to go down, the lower bottom channel may be hit around 100, currently price seems following a triangular channel, if follows then we may see small body candles formation (dozi) till 100 level, this process may go for 2 weeks . we have a strong rsi support a 46.46 level, price has not gone down below this level since April, even before corona period rsi has strongly mentioned this level, follow this level, if rsi hits this level , we may expect a reversal. one can add between 99-103, for target 122, 140.
ALEMBICLTD- Looks good. Tomorrow is earnings release ALEMBICLTD- Looks good. Tomorrow is earnings release
Possible entry 83.30--price discovery on going This baby has given almost 400% and still looking good after taking out the ATH at 73.95 some resistance has finally kicked in .
Looking at picking up in a few week since this should chill for some time however touch of the trend line at 83.30 around 21st of August is what i'm looking for.
Lets see how this plays out.
read up about the company and its quite decent and low geared so tempted to get some but not at this level .
73 would be lovely with the 50 day being able to catch up till there in a few weeks though doubt we dip that low since its been tested already..
Alembic -Bearish bias - Can go short at current levels.Alembic -Bearish bias - Can go short at current levels.
Gearing for a trendline breakout on weekly charts 50 is an important level which stock should be able to cross for it to show a rally towards 70-75 level.
Its a buy only above 50 with 44 as SL for 60++ Targets
Alembic buy Range 32-37 Target 51-60Power of Chart Alembic following the Pattern Buy Range 32-37 Target 50-60
alembicltdgreen trg 46 , 49 sl is more mental rather physical or operator can eat it in penny stocks
