Akyl Amines - Purely Technical Analysis

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Akyl Amines - Purely Technical Analysis

Alkyl amines in long term downtrend is showing signs of recovery

On weekly charts
LTP = 2260+
LTP>EMA9
EMA9>EMA21=EMA63<EMA200
EMA21 and EMA63 making a push to break above EMA 200.

On daily charts
LTP = EMA9
Key EMAs as in ascending order EMA9>EMA21>EMA63>EMA200 , forming a bullish marathon setup

Stock is weakening in 20 day timeframe amongst peers in Nifty500 cohort with respect to relative strength and momentum

Other Chart patterns

1. Stock seems to be breaking out of Descending Broadening Wedge pattern. Formed a series of Lower highs and Lower lows with expanding channel width between 2021 till date. Recent price action suggests the stock is trying to breakout of Lower high pattern. Most recently it reached 2448 above channel and could not sustain. Next push should take it above 2450-2500 range to confirm pattern
   
2. Similarly stock, more or less settled in descending parallel channel from late 2021 till date. Recently it has broken above the parallel channel
   
3. Previous price action confirms that price retraced from key 70-80% Fib levels in Mar 2025. Key Fib low price =1526. Price has sustained above these levels post March 2025
   
4. Volume analysis also suggest Highest interest in 2050-2200 levels
   

Outlook

Stock is range bound and needs to breakout of 2450-2500 levels for more significant momentum that can take price to higher levels

Disclosure 1 - Invested
Disclosure 2 - Not SEBI Registered
Disclosure 3 - This is Not investment advice. Treat it as educational

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تم فتح الصفقة

NO major change in view. Stock still has not broken out of the key zone to go higher