Alkem Laboratories Limited Stock Forecast
Green day on Tuesday for Alkem Laboratories Limited
(Updated on Jun 25, 2024)
The Alkem Laboratories Limited stock price gained 1.61% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹5,011.10 to ₹5,092.00. During the last trading day the stock fluctuated 4.77% from a day low at ₹5,011.15 to a day high of ₹5,250.30. The price has risen in 6 of the last 10 days and is up by 1.3% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 10 thousand more shares were traded than the day before. In total, 12 thousand shares were bought and sold for approximately ₹60.57 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.88% during the next 3 months and, with a 90% probability hold a price between ₹5,052.76 and ₹5,906.26 at the end of this 3-month period.
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ALKEM.BO Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Alkem Laboratories Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹5,127.91 and ₹5,129.24. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -2.49%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Alkem Laboratories Limited stock
Alkem Laboratories Limited finds support from accumulated volume at ₹4,951.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹239.15 between high and low, or 4.77%. For the last week, the stock has had daily average volatility of 2.60%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ALKEM.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Alkem Laboratories Limited to open at ₹5,117.82, and during the day (based on 14 day Average True Range), to move between ₹4,935.00 and ₹5,249.00, which gives a possible trading interval of +/-₹157.00 (+/-3.08%) up or down from last closing price. If Alkem Laboratories Limited takes out the full calculated possible swing range there will be an estimated 6.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹5,222.05 (2.55%) than the support at ₹4,951.90 (2.75%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Alkem Laboratories Limited stock A Buy?
The Alkem Laboratories Limited stock holds several negative signals and despite the positive trend, we believe Alkem Laboratories Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.323 Sell Candidate Unchanged
Predicted Opening Price for Alkem Laboratories Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹5,117.82 ( 0.507%) | ₹5,092.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALKEM.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5,356.97 | 5.20% |
| R2 | 5,265.61 | 3.41% |
| R1 | 5,209.17 | 2.30% |
| Price | 5,092.00 | |
| S1 | 5,026.46 | -1.29% |
| S2 | 4,970.02 | -2.40% |
| S3 | 4,878.67 | -4.19% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5,337.95 | 4.83% |
| R2 | 5,265.10 | 3.40% |
| R1 | 5,222.05 | 2.55% |
| Price | 5,092.00 | |
| S1 | 4,951.90 | -2.75% |
| S2 | 4,940.20 | -2.98% |
| S3 | 4,901.50 | -3.74% |
ALKEM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 10, 2024 | Aug 10, 2024 | Sep 04, 2024 | ₹5.00 | 0.0982% |
| 2 | Feb 16, 2024 | Feb 16, 2024 | Mar 01, 2024 | ₹35.00 | 0.683% |
| 3 | Aug 10, 2023 | Aug 10, 2023 | Sep 24, 2023 | ₹10.00 | 0.282% |
| 4 | Feb 16, 2018 | Feb 16, 2018 | Mar 11, 2018 | ₹6.00 | 0.272% |
| 5 | Aug 31, 2017 | Aug 31, 2017 | Oct 01, 2017 | ₹9.00 | 0.492% |
FAQ
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