WIPRO LTD-ADR (WIT) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:WIT - US97651M1099 - ADR
3.06 USD
+0.2 (+6.99%)
3.09 USD
+0.03 (+0.98%)
Overall WIT gets a technical rating of 6 out of 10. In the last year, WIT was a below average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
When comparing the yearly performance of all stocks, WIT is a bad performer in the overall market: 69% of all stocks are doing better.
The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
In the last month WIT has a been trading in the 2.65 - 3.09 range, which is quite wide. It is currently trading near the high of this range.
Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
WIT has an average volume of 8336770 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 59% of 88 stocks in the same industry.
WIT is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so WIT is lagging the market.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
WIT has an average technical rating and it also does not offer a high quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
2.60
3.17
2 important support areas can be observed.
- A support zone ranging from 2.77 to 2.90. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 2.63 to 2.64. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- 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 | NEUTRAL | NEUTRAL | The long term trend for WIT is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for WIT is up. |
| ChartMill Relative Strength | 31.5 | NEUTRAL | WIT is not amongst the best or worst performers 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) | UP | POSITIVE | The current price of WIT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of WIT is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 76.05 | OVERBOUGHT | The high RSI value suggests WIT may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests WIT has a positive trend. |
| Stochastics (14,3) | 80.77 | OVERBOUGHT | The high Stochastics value suggests WIT may be overbought. |
| Average True Range in percent/ATR (20) | 1.96 | LOW VOLATILITY | The low ATR as a percentage value for WIT suggests low volalility. |
| Average Directional Index/ADX (14) | 25.78 | POSITIVE | The high ADX value value for WIT suggests a strong 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)
3.06
+0.2 (+6.99%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryIT Services
Performance
% Chg6.99%
1 Week10.07%
2 Weeks7.37%
1 Month13.75%
3 Month9.29%
6 Month3.03%
12 Month-16.16%
2 Year9.87%
3 Year31.33%
5 Year8.32%
10 Year41.42%
15 Year5.49%
Volatility
ATR(14)0.07
ATR(20)%1.96%
ATR Inc180.99%
Range Today0.2
ADR(20)0.06
ADR(20)%1.85%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS31.5
3 months CRS83.76
6 months CRS44.01
Mansfield-0.75
10 Day High3.09
10 Day Low2.76
20 Day High3.09
20 Day Low2.65
52 Week High3.79
52 Week Low2.55
CS1 End2.9
CR1 Start3.14
Volume & EV
DER(3)-2.56%
DER(5)-0.41%
Volume47.11M
Volume Incr101.09%
Vol(5)14.28M
Vol(50)8.34M
WIPRO LTD-ADR / WIT FAQ
Can you provide the ChartMill technical rating for WIPRO LTD-ADR?
ChartMill assigns a technical rating of 6 / 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 76.0464. This indicates that the stock is currently overbought.
What is the MACD signal for WIT stock?
The MACD indicator for WIPRO LTD-ADR (WIT) has a value of 0.0155746, indicating a bearish trend.