Stock name: Quess Corp Ltd.
Pattern: Support and reversal
Time frame: Daily
Observation:
The stock formed an inverted head and shoulders pattern and registered a breakout in July 2024, followed by an upward move. However, influenced by overall market sentiment, the stock retraced and, by November 2024, reached its previous breakout level, which is now acting as a support. On November 27, 2024, the stock witnessed a strong rebound with significantly high trading volumes. If it can sustain this rebound level, technical analysis suggests that the stock may move 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: Swan Energy Ltd.
Pattern: Support and reversal
Time frame: Daily
Observation:
The stock has been in an overall uptrend but recently entered a phase of consolidation, moving sideways since December 2023 within a parallel channel on the daily chart. On October 25, 2024, it touched the channel's support level and rebounded strongly. This rebound was followed by multiple green candles accompanied by high trading volumes, signalling strong buying interest. If the stock sustains its current momentum, technical analysis suggests that it may see further upward movement. 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.
