Head N Shoulder Breakout in Alkem Labs. Ready for the upmove

Alkem Labs broke the neckline of Inverted Head and Shoulder on the daily chart, retested the neckline and it is looking good for a decent run. The HNS target comes to Rs.5616, which is a good 11.29% from the CMP of Rs. 5146.

The Inverted Head and Shoulders pattern is a bullish reversal chart pattern in technical analysis, signaling a potential shift from a downtrend to an uptrend.

Moreover, the stock is above trading above 11 & 22 DEMA which signifies good uptrend and momentum.

MACD is above zero line and RSI is at 58 indicating strength and momentum.

One can keep an eye on this stock for decent 11% return in short term. It will report its Q4'25 earnings on 29th May,2025. The expected revenue is 31.68B.

Keep investing!!!