Stock name: Quess Corp Ltd.
Pattern: Inverse head and shoulders pattern
Time frame: Weekly
Observation:
The stock has been in a downward trend since September 2021. Between June 2022 and July 2024, it formed an inverse head and shoulders pattern on the weekly chart. A breakout occurred at the end of July 2024, supported by high volume, followed by upward movement with strong volumes. According to technical analysis, if the momentum continues, the stock may see further upward. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.
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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
Stock name: Gujarat Fluorochemicals Ltd.
Pattern: Falling wedge pattern
Time frame: Weekly
Observation:
The stock has been forming a downward wedge pattern from June 2022 to September 2024 on the weekly chart. It broke out of the pattern in early September 2024 with high volume. Following the breakout, a confirmation candle with strong volume appeared, and the stock sustained its level on the third candle. If momentum holds, the stock may move further upward according to technical analysis. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.
You may add this to your watch list to understand further price action.
Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
