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- WNS stock price has given a breakdown of the bearish flag pattern.
- 200-day EMA has become a strong resistance for the buyers.
WNS (Holdings) Limited (NYSE: WNS) is a global business process management (BPM) company. It is a global provider of BPM services that offers comprehensive data, voice, analytical, and business transformative services with a blended onshore, nearshore, and offshore delivery model.
Financial and Stock performance of the WNS
The company has been operating comprehensively pretty well for a few years. It has reported its annual revenue as $1.22 Billion which increased up to 10.31% compared to the previous years. This reflects the decent performance of the company.
However, the firm experienced some negative profitability in the second quarterly income and profit margin. Consequently, the WNS stock price has also experienced a decline of -20.88% in June 2023. This signifies the negativity in the statement also impacted the stock investors.
Furthermore, in the current month, the stock price has observed a decline of -18.38%. Now, it is sustaining above the demand area with a huge weekly volume of 2.939 Million. Due to this, the current session became more volatile, which may probably benefit the short-term traders.
WNS stock has set a yearly target of $92.50 within the 52-week high and low of $94.96 and $60.79. It holds a current market capitalization of $2,639,049,784 with an average volume of 175,118.
Technical Analysis and Prediction of the WNS Stock
WNS stock price is performing below the 50-day EMA and the 200-day EMA indicating a downtrend. Currently, the price broke below the $67.26 level with a huge volume reflecting the selling pressure from that zone. At present, the 200-day EMA is at the level of $74.07 and the 50-day is at $67.63.
At press time, the price is trading at the level of $55.88 after the breakdown of the bearish flag at $67.26. In the last trading session, the price formed a strong bearish candle at $64.07 reflecting strong bearish sentiments in the current trading phase. It is moving toward the lower support at $49.75. However, it may first retest the $60.85 level then it may continue the bearish rally.
Moreover, the relative strength index (RSI) shows signs in favor of the bears. It is currently sloping at 26.22 below the 30-mark lower band in the oversold region.
Conclusion
The price prediction for the WNS stock price will be bearish. It is currently trading in a strong bearish trend after the breakdown of the bearish flag. So, the price is moving toward the lower support at $49.75. If it manages to close below the $46.47 level, it may be seen falling to $39.27 next support level. However, it may first retest the $60.85 level then it may continue the bearish rally.
Technical Levels
- Resistance levels: $69.68 and $80.81
- Support levels: $46.47 and $34.55
Disclaimer
The views and opinions stated by the author, or any person named in this article, are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading stocks comes with the risk of financial loss.
