WIT Wipro Limited Forecast, Technical & Fundamental Analysis

WIT sees its 50-day moving average cross bearishly below its 200-day moving average

The 50-day moving average for WIT moved below the 200-day moving average on November 27, 2023. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.

Technical Analysis (Indicators)

Bearish Trend Analysis

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 7 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where WIT declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

WIT broke above its upper Bollinger Band on November 17, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Bullish Trend Analysis

The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where WIT's RSI Indicator exited the oversold zone, of 27 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Momentum Indicator moved above the 0 level on November 14, 2023. You may want to consider a long position or call options on WIT as a result. In of 95 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for WIT just turned positive on November 03, 2023. Looking at past instances where WIT's MACD turned positive, the stock continued to rise in of 47 cases over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where WIT advanced for three days, in of 264 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 229 cases where WIT Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Fundamental Analysis (Ratings)

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. WIT’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.915) is normal, around the industry mean (4.174). P/E Ratio (18.248) is within average values for comparable stocks, (47.504). Projected Growth (PEG Ratio) (1.213) is also within normal values, averaging (1.388). Dividend Yield (0.003) settles around the average of (0.028) among similar stocks. P/S Ratio (2.313) is also within normal values, averaging (13.307).

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. WIT’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 80, placing this stock better than average.