Stock name: SRF Ltd.
Pattern: Symmetrical triangle pattern
Time frame: Monthly
Observation:
Between September 2021 and March 2024, the stock has undergone consolidation, forming a symmetrical triangle pattern on its monthly chart. March 2024 witnessed a breakout from this pattern, propelling the stock upwards. Presently, the stock maintains favourable RSI levels and displays bullish signals on the MACD indicator. Technical analysis suggests that if the current momentum persists, the stock may continue its upward trajectory.
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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: Quess Corp Ltd.
Pattern: Cup and handle pattern
Time frame: Weekly
Observation:
Since September 2021, the stock has experienced a downward trend, stabilizing somewhat from November 2022 onwards and forming a cup and handle pattern on its weekly chart. April 2024 marked a breakout from this pattern, accompanied by above-average trading volume and a bullish MACD indicator. Following the breakout, the stock surged upwards. Presently, the stock's RSI levels indicate overbought conditions, suggesting a potential retest. Technical analysis suggests that if the stock maintains its current momentum, it may see further upward movement.
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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.
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