Quess Corp Limited (QUESS) Stock - Complete Technical Analysis - Sep 20, 2024

Quess Corp Stock Analysis: Bullish Momentum and Key Levels to Watch

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. Quess Corp Limited (QUESS) is currently trading at 864.35, just 0.08% below its 52-week high of 865. The stock has shown significant momentum, gaining over 115% from its 52-week low of 400.35. The stock is also above key moving averages, such as the 10, 20, 50, 100, and 200-day EMAs, reflecting a strong uptrend. The Average Directional Index (ADX) suggests a firm trend is in place, while the RSI indicates the stock is nearing overbought territory. MACD is in a positive range, signaling bullish momentum, and the Stochastic Oscillator suggests that the stock is approaching an overbought zone. The Commodity Channel Index (CCI) shows a strong upward trend, with the Awesome Oscillator also confirming positive market sentiment.

For traders, the immediate support lies around the 820-830 zone, aligning with the shorter-term moving averages and previous resistance levels that have now turned into support. Resistance can be expected at the 870-880 range, slightly above the current price, given the proximity to the 52-week high. With a ROE of 15.4% and a steady dividend yield of 1.16%, the stock's fundamentals are also solid, adding more confidence to its technical strength.

Overall, QUESS is in a bullish phase, and while some caution is warranted due to the overbought signals from multiple indicators, any correction could provide a good buying opportunity as the long-term uptrend remains intact. Traders should watch for breakouts above the 865 level for further upward momentum or pullbacks to key support zones for better entry points.