Wipro In Retrospect: Shares Down 6.7% Since Upgraded One Week Ago (WIT)

Published on Wed, 01/23/2013 - 10:12
By Mallory Stone in Analyst reflections, WIT, analyst reflections, nyse:wit, wipro

One week ago Wipro (NYSE:WIT) was upgraded from Sell to Buy at UBS. The stock closed at $9.20, which is 6.7% lower than the price one week ago ($9.86).

Wipro (NYSE:WIT) is currently priced 15.0% above its average consensus analyst price target of $7.85. The stock should discover initial support at its 50-day moving average (MA) of $8.75 and subsequent support at its 200-day MA of $8.74.

Over the past year, Wipro has traded in a range of $7.56 to $11.49 and is now at $9.24, 22% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.4%.

Wipro Limited specializes in IT and computer related technologies. The Group's services encompass a number of areas, including software architecture, business intelligence systems, e-commerce, data warehousing, Internet access devices, network management, system administration, messaging systems, IT consulting and design. Wipro also has a presence in niche markets of consumer products.

By Mallory Stone
mstone@fnno.com

Latest News from FNNO

U.S. Steel: 52-Week High Recently Eclips...

U.S. Steel (NYSE:X) traded at a new 52-week high today of $33.19. This new high was re ...

WellPoint Looks to Continue to Trade Abo...

Shares of WellPoint (NYSE:WLP) traded at a new 52-week high today of $116.50. So far t ...

Watch for Continued Gains in Shares of W...

Shares of Westmoreland Coal (AMEX:WLB) traded today at $43.84, breaking its 52-week hig ...

Recent 52-Week Low Surpassed in Shares o...

Shares of UBS (NYSE:UBS) traded at a new 52-week low today of $17.44. Approximately 4. ...

Grupo Televisa Looks to Continue to Trad...

Shares of Grupo Televisa (NYSE:TV) traded today at $36.18, breaking its 52-week high. ...

Shares of Trinity Industries Rise Above ...

Trinity Industries (NYSE:TRN) traded at a new 52-week high today of $47.83. This new h ...

Watch for Continued Gains in Shares of P...

Shares of Post Properties (NYSE:PPS) traded today at $55.82, breaking its 52-week high. ...

Pike Electric: The Losing Streak Continu...

Pike Electric (NYSE:PIKE) traded at a new 52-week low today of $8.10. This new low was ...