Quess Corp Limited (QUESS) Stock - Complete Technical Analysis - Nov 13, 2024

Quess Corp Limited Stock Analysis: Is a Reversal Imminent or Will the Downtrend Continue QUESS An

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) has been showing a downtrend recently, trading 27.32% below its 52-week high of 875, which was reached just last month. The stock, however, remains 38.4% above its 52-week low of 459.5, demonstrating a degree of resilience.

Looking at recent price movements, QUESS has been facing pressure with the stock closing at 635.95 on 13 November 2024, after opening at 675.00, suggesting that a correction is underway. Resistance has been consistent at 700, while the stock's support range is around 630635.

Key technical indicators indicate oversold conditions with an RSI of 31.74 and a negative momentum reading. Despite this, the ADX at 29.04 suggests the presence of a strong trend, likely indicating continued downside pressure unless a reversal is triggered.

In summary, the stock may find short-term support near the 630635 zone, with resistance around 675. The lack of upward movement and bearish indicators imply that traders should be cautious of further downside risks. A breakout above 700 might indicate a reversal, while further price declines could target the 600610 zone.