Thu 22'nd Mar 2018
Infosys Limited Stock Analysis
Technical stock analysis for Thu 22'nd Mar 2018
Infosys Limited fell by -1.94% in the last day from $18.04 to $17.69 and has now fallen 3 days in a row. The price has fallen in 6 of the last 10 days and is down by -1.89% for this period. Volume has increased in the last day by 0.53 million shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 6.39 million shares bought and sold for approximately $113.11 million.
|Shorts||14.08% ( 2018-02-28 )|
|Cash||432 925.1 mill|
Infosys Limited has broken the weak rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at $17.85. A reaction back to this level may hold a second chance to get out before further falls.
There are few to none technical positive signals at the moment. Infosys Limited holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at $18.13 and $17.81. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Monday March 12, 2018, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
RSI14 is 49 and the stock is currently not being overbought or oversold
Support & Resistance
Infosys Limited finds support from accumulated volume at $17.62. On the upside the stock meets some resistance just above today's level from accumulated volume at $17.75, $17.78 and $18.12.
The stock is about to test the resistance from accumulated volume at $17.75 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.27 (1.53%) between high and low. For the last week, the stock has had a daily average volatility of 1.20%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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The Infosys Limited stock holds several negative signals and despite the positive trend we believe Infosys Limited will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Sell Candidate.
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