Infosys Limited Stock Forecast

Green day on Monday for Infosys Limited
(Updated on Apr 22, 2024)

INFY Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 4.78%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Infosys Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $18.23. On a fall, the stock will find some support from the short-term average at $17.09. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Infosys Limited stock

Infosys Limited finds support from accumulated volume at $16.95 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.430 (2.54%) between high and low. For the last week, the stock has had daily average volatility of 2.52%.

Our recommended stop-loss: $16.54 (-4.38%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (INFY) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Infosys Limited to open at $17.22, and during the day (based on 14 day Average True Range), to move between $16.91 and $17.69, which gives a possible trading interval of +/-$0.386 (+/-2.23%) up or down from last closing price. If Infosys Limited takes out the full calculated possible swing range there will be an estimated 4.47% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $17.58 (1.62%) than the support at $16.95 (2.02%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Infosys Limited stock A Buy?

Infosys Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.018 Hold/Accumulate Unchanged

Predicted Opening Price for Infosys Limited of Tuesday, April 23, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.