Quess Corp Limited (QUESS) Stock - Complete Technical Analysis - Oct 18, 2024

Quess Corp Limited: Is the Current Dip a Buying Opportunity Technical Analysis

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 is currently trading at 754, indicating it is around 13.83% below its 52-week high of 875, reached on September 23, 2024, while being 88.32% above its 52-week low of 400.35, recorded on October 26, 2023. The stock has recently shown an inside candle pattern formed on October 7, where it traded within the range of 772.4 and 706.35 for ten days, indicating potential indecision in the market.

The recent price action shows a notable volatility trend. On October 18, the stock opened at 728.80, reaching a high of 766.90 before closing at 753.95. This represents a significant price surge from the day's low of 728.75, reflecting bullish sentiment intraday. Over the last five days, the stock has shown fluctuations, with highs and lows indicating a moderate trend as it oscillates around the key levels of support and resistance.

From a technical standpoint, the MACD is currently in negative territory, indicating bearish momentum, while the RSI is near the mid-level, suggesting a lack of strong buying or selling pressure. The ADX suggests a weak trend, which indicates the market may be consolidating. The stock's position relative to various moving averages also provides insights: it is trading above the 10-day and 50-day EMA but below the 20-day and 30-day EMA, indicating mixed signals.

Key support levels can be identified around 737.13 and 699.62, while resistance levels are evident near 806.07 and 843.58. The overall market sentiment seems cautious, and traders should watch for breaks above resistance or below support for actionable signals.