Wipro Limited (WIT) stock has risen 6.26% over the past week and gets a Bullish rating from InvestorsObserver's Sentiment Indicator.
What is Stock Sentiment?
When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment.
Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down.
InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend.
Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.
What's Happening With WIT Stock Today?
Wipro Limited (WIT) stock is down -1.15% while the S&P 500 is higher by 0.28% as of 12:58 PM on Wednesday, Jan 13. WIT is lower by -$0.08 from the previous closing price of $6.53 on volume of 1,451,662 shares. Over the past year the S&P 500 has risen 15.93% while WIT is higher by 64.54%. WIT earned $0.23 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 27.94.
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More About Wipro Limited
Wipro is a leading global IT services provider, with 175,000 employees. Based in Bengaluru, the Indian IT services firm leverages its offshore outsourcing model to derive over half of its revenue (57%) from North America. The company offers traditional IT services offerings: consulting, managed services, and cloud infrastructure services as well as business process outsourcing as a service.
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