WIPRO LTD-ADR (WIT) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:WIT - US97651M1099 - ADR
2.69 USD
-0.01 (-0.37%)
2.7085 USD
+0.02 (+0.69%)
We assign a technical rating of 1 out of 10 to WIT. WIT scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
When comparing the yearly performance of all stocks, WIT is a bad performer in the overall market: 79% of all stocks are doing better.
WIT is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
In the last month WIT has a been trading in the 2.55 - 2.74 range, which is quite wide. It is currently trading near the high of this range.
Prices have been consolidating recently, this may present a good entry opportunity.
WIT has an average volume of 8217450 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
WIT is an average performer in the IT Services industry, it outperforms 51% of 86 stocks in the same industry.
Although the technical rating is bad, WIT does present a nice setup opportunity. Prices have been consolidating lately. There is a support zone below the current price at 2.69, a Stop Loss order could be placed below this zone.
More info and screens
2.54
3.17
When analyzing the support we notice one important area.
- A support zone ranging from 2.57 to 2.69. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
We can see 3 important resistance areas.
- A resistance zone ranging from 2.69 to 2.74. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @2.89 from a horizontal line in the daily time frame.
- Resistance @3.14 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for WIT is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for WIT is neutral. |
| ChartMill Relative Strength | 21.76 | NEGATIVE | WIT has a low relative strength, it was outperformed by 78.24% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of WIT is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of WIT is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of WIT is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 54.46 | NEUTRAL | The RSI value for WIT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests WIT has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 87.06 | OVERBOUGHT | The high Stochastics value suggests WIT may be overbought. |
| Average True Range in percent/ATR (20) | 1.7 | LOW VOLATILITY | The low ATR as a percentage value for WIT suggests low volalility. |
| Average Directional Index/ADX (14) | 11.46 | NEGATIVE | The low ADX value for WIT suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
2.69
-0.01 (-0.37%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryIT Services
Performance
% Chg-0.37%
1 Week0%
2 Weeks1.13%
1 Month0.75%
3 Month-2.54%
6 Month-6.6%
12 Month-23.03%
2 Year10.93%
3 Year5.08%
5 Year4.47%
10 Year14.32%
15 Year4.8%
Volatility
ATR(14)0.04
ATR(20)%1.7%
ATR Inc2.44%
Range Today0.07
ADR(20)0.04
ADR(20)%1.53%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS21.76
3 months CRS33.46
6 months CRS21.35
Mansfield-2.02
10 Day High2.74
10 Day Low2.6
20 Day High2.74
20 Day Low2.55
52 Week High3.79
52 Week Low2.55
CS1 End2.69
CR1 Start2.69
Volume & EV
DER(3)1.47%
DER(5)1.65%
Volume9.82M
Volume Incr25.89%
Vol(5)8.13M
Vol(50)8.22M
WIPRO LTD-ADR / WIT FAQ
Can you provide the ChartMill technical rating for WIPRO LTD-ADR?
ChartMill assigns a technical rating of 1 / 10 to WIT.
Can you provide the trend direction for WIPRO LTD-ADR?
The current trend direction for WIPRO LTD-ADR (WIT) is Bearish.
What is the RSI signal for WIT stock?
WIPRO LTD-ADR (WIT) has an RSI value of 54.455. This indicates that the stock is currently neutral.
What is the MACD signal for WIT stock?
The MACD indicator for WIPRO LTD-ADR (WIT) has a value of 0.00880582, indicating a bearish trend.