While this happened, UBS upgraded its Wipro Ltd. ADR [WIT] rating to a Neutral from a a Sell in a research note published recently. A number of analysts have revised their coverage, including HSBC Securities’s analysts, who increased its forecast for the stock in early December from “a Reduce” to “a Hold”. Investec also remained covering WIT and has decreased its forecast on October 03, 2024 with a “Sell” recommendation from previously “Hold” rating. Nomura started covering the stock on July 02, 2024. It rated WIT as “a Buy”.
Price Performance Review of WIT
On Tuesday, Wipro Ltd. ADR [NYSE:WIT] saw its stock fall -0.29% to $3.46. Over the last five days, the stock has lost -2.26%. Wipro Ltd. ADR shares have fallen nearly -2.26% since the year began. Nevertheless, the stocks have risen 27.68% over the past one year. While a 52-week high of $3.75 was reached on 01/02/25, a 52-week low of $2.55 was recorded on 01/03/25. SMA at 50 days reached $3.49, while 200 days put it at $3.10.
Levels Of Support And Resistance For WIT Stock
The 24-hour chart illustrates a support level at 3.43, which if violated will result in even more drops to 3.39. On the upside, there is a resistance level at 3.51. A further resistance level may holdings at 3.55. The Relative Strength Index (RSI) on the 14-day chart is 41.13, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.63%. Stochastics %K at 14.58% indicates the stock is a buying.
How much short interest is there in Wipro Ltd. ADR?
A steep rise in short interest was recorded in Wipro Ltd. ADR stocks on 2024-12-13, dropping by -9.47 million shares to a total of 45.64 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 55.12 million shares. There was a decline of -20.75%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on January 17, 2024 when Exane BNP Paribas began covering the stock and recommended ‘”an Underperform”‘ rating along with a $5.20 price target.
