One of today's notable stocks on the rise is Wipro (NYSE:WIT), up 1.7% to $7.86. The S&P is trading fractionally lower to 1,591 and the Dow is trading 0.2% lower to 14,781.
There is potential upside of 9.4% for shares of Wipro based on a current price of $7.86 and an average consensus analyst price target of $8.60. The stock should run into initial resistance at its 200-day moving average (MA) of $7.89 and subsequent resistance at its 50-day MA of $8.60.
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.
In the past 52 weeks, Wipro share prices have been bracketed by a low of $6.74 and a high of $9.23 and are now at $7.86, 17% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has remained constant.