WIT Technical Analysis - WIPRO LTD-ADR

Technical Rating and Analysis

Overall WIT gets a technical rating of 1 out of 10. WIT's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

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.

85% of all other stocks performed better in the past year than WIT.

WIT is part of the IT Services industry. There are 85 other stocks in this industry, of which 60% are performing better than WIT.

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 2.68 - 2.85 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

WIT has an average volume of 7431700 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although the technical rating is bad, WIT does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 2.82. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 2.70, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

2.60

3.17

We found 1 important support area.

A support zone ranging from 2.63 to 2.70. This zone is formed by a combination of multiple trend lines in multiple time frames.

2 important resistance areas can be observed.

A resistance zone ranging from 2.82 to 2.83. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 3.12 to 3.14. This zone is formed by a combination of multiple trend lines in multiple time frames.

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Technical Indicator Signal Analysis

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	15.17	NEGATIVE	WIT has a low relative strength, it was outperformed by 84.83% 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	NEGATIVE	The current price of WIT is below 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)	51.62	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.
Stochastics (14,3)	64.71	NEUTRAL	The Stochastics value for WIT is a neutral value.
Average True Range in percent/ATR (20)	1.79	LOW VOLATILITY	The low ATR as a percentage value for WIT suggests low volalility.
Average Directional Index/ADX (14)	16.28	NEGATIVE	The low ADX value for WIT suggests a weak or negative trend.