Meanwhile, Jefferies downgraded its Wipro Ltd. ADR [WIT] rating to an Underperform from a a Hold in a research note published recently. A number of analysts have revised their coverage, including UBS’s analysts, who increased its forecast for the stock in early January from “a Sell” to “a Neutral”. HSBC Securities also remained covering WIT and has increased its forecast on December 09, 2024 with a “Hold” recommendation from previously “Reduce” rating. Investec revised its rating on October 03, 2024. It rated WIT as “a Sell” which previously was an “a Hold”.
Price Performance Review of WIT
On Tuesday, Wipro Ltd. ADR [NYSE:WIT] saw its stock jump 1.84% to $2.77. Over the last five days, the stock has lost -2.81%. Wipro Ltd. ADR shares have fallen nearly -21.75% since the year began. Nevertheless, the stocks have risen 7.36% over the past one year. While a 52-week high of $3.79 was reached on 01/24/25, a 52-week low of $2.55 was recorded on 04/16/25. SMA at 50 days reached $3.15, while 200 days put it at $3.28.
Levels Of Support And Resistance For WIT Stock
The 24-hour chart illustrates a support level at 2.74, which if violated will result in even more drops to 2.70. On the upside, there is a resistance level at 2.79. A further resistance level may holdings at 2.80. The Relative Strength Index (RSI) on the 14-day chart is 37.08, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.10, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.43%. Stochastics %K at 20.41% indicates the stock is a holding.
How much short interest is there in Wipro Ltd. ADR?
A steep rise in short interest was recorded in Wipro Ltd. ADR stocks on 2025-03-31, growing by 17.07 million shares to a total of 66.04 million shares. Yahoo Finance data shows the prior-month short interest on 2025-02-28 was 48.97 million shares. There was a rise of 25.84%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on July 02, 2024 when Nomura began covering the stock and recommended ‘”a Buy”‘ rating .
