Infosys Limited Stock Forecast
Infosys Limited stock price down 0.587% on Wednesday
(Updated on Apr 17, 2024)
The Infosys Limited stock price fell by -0.587% on the last day (Wednesday, 17th Apr 2024) from $17.05 to $16.95. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 1.84% from a day low at $16.87 to a day high of $17.18. The price has fallen in 6 of the last 10 days and is down by -4.35% for this period. Volume has increased on the last day by 5 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 17 million shares were bought and sold for approximately $280.84 million.
The stock has broken the falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($16.96) are considered to be a "second chance" to get out. According to the fan-theory $15.57 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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INFY 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 Infosys 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 $17.59 and $18.49. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -6.82%. Further fall is indicated 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.
Support, Risk & Stop-loss for Infosys 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 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 $0.310 (1.84%) between high and low. For the last week, the stock has had daily average volatility of 1.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INFY) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Infosys Limited to open at $17.00, and during the day (based on 14 day Average True Range), to move between $16.63 and $17.27, which gives a possible trading interval of +/-$0.324 (+/-1.91%) up or down from last closing price. If Infosys Limited takes out the full calculated possible swing range there will be an estimated 3.82% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $17.58, some $0.630 (3.72%) from the current price of $16.95, our system finds the risk reward not very attractive.
Earnings coming up
Infosys Limited will release earnings BMO on Thursday, April 18, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.170. We will update the financials statements for Infosys Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.01% in the first trading day after earnings release.
Is Infosys Limited stock A Buy?
Infosys Limited holds several negative signals and is within a 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: -3.113 Sell Candidate Unchanged
Predicted Opening Price for Infosys Limited of Thursday, April 18, 2024
Fair opening price April 18, 2024 | Current price |
---|---|
$17.00 ( 0.295%) | $16.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INFY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 17.31 | 2.12 % | |
R2 | 17.19 | 1.43 % | ||
R1 | 17.12 | 0.99 % | ||
Current price: | 16.95 | |||
Support | S1 | 16.88 | -0.404 % | |
S2 | 16.81 | -0.84 % | ||
S3 | 16.69 | -1.53 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 19.99 | 17.94 % | |
R2 | 17.72 | 4.54 % | ||
R1 | 17.58 | 3.72 % | ||
Current price | 16.95 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
INFY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Oct 13, 2023 | Oct 24, 2023 | Nov 16, 2023 | $0.216 | 1.25% |
2 | Apr 14, 2023 | Jun 01, 2023 | Aug 06, 2023 | $0.213 | 1.27% |
3 | Oct 14, 2022 | Oct 27, 2022 | Nov 14, 2022 | $0.201 | 1.03% |
4 | Apr 18, 2022 | May 31, 2022 | Jun 01, 2022 | $0.210 | 1.10% |
5 | Oct 26, 2021 | Oct 26, 2021 | Nov 12, 2021 | $0.199 | 0.84% |
FAQ
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