Quess Corp Limited (QUESS) Stock - Complete Technical Analysis - Dec 03, 2024

Quess Corp Limited Stock Analysis: Potential Breakout or Pullback Technical & Fundamental Review

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 recently shown strong potential with its current price of 718.65, marking a 56.4% gain from the 52-week low. Despite trading 17.87% below its 52-week high, the stock's trend remains positive.

Technically, QUESS appears to be on an upward trajectory, with the price consistently staying above key exponential and simple moving averages. This supports the ongoing bullish sentiment. However, the RSI, at 57.86, signals that the stock isn't yet in overbought territory, leaving space for further price appreciation.

The MACD is in negative territory, suggesting a potential weakening of bullish momentum. Traders should watch for a MACD crossover for confirmation of any shift towards a stronger bullish trend. The volatility of the stock is moderate, as indicated by the ATR, meaning that price swings are expected, and traders should factor in risk management strategies.

A strong price surge was observed on Dec 3, with the stock climbing from a low of 705.65 to a high of 722.65. This highlights strong buying pressure, but caution is advised due to the stochastic RSI being at overbought levels (100). Traders may want to wait for a pullback or observe how the stock behaves around support at 690-705 before entering a position.

Resistance is seen at 725 and 756, with a key support zone around 690. The 52-week high of 875 remains a key target. For those considering a long position, waiting for a pullback near support or a confirmation of breakout above resistance may offer favorable entry points.