Wipro Limited Stock Forecast
Red day on Tuesday for Wipro Limited stock after losing 1.13%
(Updated on Apr 16, 2024)
The Wipro Limited stock price fell by -1.13% on the last day (Tuesday, 16th Apr 2024) from $5.32 to $5.26. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 0.95% from a day low at $5.26 to a day high of $5.31. The price has been going up and down for this period, and there has been a -6.24% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 million shares and in total, 2 million shares were bought and sold for approximately $12.48 million.
Given the current short-term trend, the stock is expected to fall -3.31% during the next 3 months and, with a 90% probability hold a price between $5.09 and $6.08 at the end of this 3-month period.
WIT Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Wipro Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $5.50 and $5.87. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, February 16, 2024, and so far it has fallen -18.20%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Wipro Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0500 between high and low, or 0.95%. For the last week, the stock has had daily average volatility of 1.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WIT) For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday, 17th we expect Wipro Limited to open at $5.28, and during the day (based on 14 day Average True Range), to move between $5.15 and $5.37, which gives a possible trading interval of +/-$0.113 (+/-2.14%) up or down from last closing price. If Wipro Limited takes out the full calculated possible swing range there will be an estimated 4.28% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $5.69, some $0.430 (8.17%) from the current price of $5.26, our system finds the risk reward not very attractive.
Earnings coming up
Wipro Limited will release earnings BMO on Friday, April 19, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0700. We will update the financials statements for Wipro Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.77% in the first trading day after earnings release.
Is Wipro Limited stock A Buy?
Wipro Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.333 Sell Candidate Unchanged
Predicted Opening Price for Wipro Limited of Wednesday, April 17, 2024
Fair opening price April 17, 2024 | Current price |
---|---|
$5.28 ( 0.317%) | $5.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WIT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.33 | 1.27 % | |
R2 | 5.31 | 0.90 % | ||
R1 | 5.30 | 0.680 % | ||
Current price: | 5.26 | |||
Support | S1 | 5.26 | -0.0463 % | |
S2 | 5.25 | -0.271 % | ||
S3 | 5.23 | -0.634 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.32 | 20.15 % | |
R2 | 5.75 | 9.32 % | ||
R1 | 5.69 | 8.17 % | ||
Current price | 5.26 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
WIT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 12, 2024 | Jan 23, 2024 | Jan 23, 2024 | $0.0107 | 0.189% |
2 | Jan 13, 2023 | Jan 24, 2023 | May 10, 2023 | $0.0120 | 0.258% |
3 | Mar 25, 2022 | Apr 05, 2022 | Apr 06, 2022 | $0.0660 | 0.86% |
4 | Jan 12, 2022 | Jan 21, 2022 | Jan 24, 2022 | $0.0140 | 0.184% |
5 | Jan 13, 2021 | Jan 22, 2021 | Jan 25, 2021 | $0.0140 | 0.217% |
FAQ
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