INFY Price Prediction Next Week
Technical Analysis
Based on recent price action, INFY is showing bearish momentum with RSI at 36.37 indicating oversold conditions. The stock is trading below all major moving averages (5,10,20,60-day SMAs), suggesting a strong downtrend.
Price Targets for Next Week
Fibonacci levels indicate:
- Resistance levels: R1: $22.05, R2: $22.33, R3: $22.78
- Support levels: S1: $21.14, S2: $20.86, S3: $20.40
- Pivot point: $21.59
News Impact
Recent positive catalysts:
- Partnership with Lufthansa Group to establish Global Capability Center in Bengaluru
- Development of specialized AI models for banking, IT operations, cybersecurity
However, the broader IT services sector faces challenges:
- Pressure to demonstrate tangible AI-driven ROI
- Data readiness and regulatory compliance issues
- Competition from both closed and open-source AI models
Price Prediction & Recommendation
Given the technical indicators and recent price action:
- Short-term target: $20.86 (S2 level)
- Recommendation: SELL
- Stop loss: $22.05 (R1 level)
Rationale:
- Bearish momentum confirmed by declining RSI
- Trading below all major moving averages
- Bollinger Band width of 9.06 suggests increased volatility
- MACD showing bearish crossover (-0.23)
The stock is likely to test support levels next week due to technical weakness, despite positive partnership news. Current price at $21.04 suggests room for further downside.
INFY Similar Chart Price Prediction
The price of INFY is predicted to go up 0.29%, based on the high correlation periods with AAPL. The similarity of these two price pattern on the periods is 94.03%.
INFY
AAPL
Up: 0.29%Similarity: 94.03%
INFY Revenue Forecast
INFY EPS Forecast
INFY FAQs
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INFY VS S&P500
Infosys should benefit from greater margin expansion than expected in our base case as more automated tech solutions decrease the variable costs associated with each incremental sale.
Infosys should profit from a wave of demand for more flexible IT infrastructures following the COVID-19 pandemic, as more companies seek to be prepared with the onset of similar events.
As the European market becomes more comfortable with outsourcing its IT workloads offshore, Infosys should expand its market share in the growing geo.
INFY Analyst's Forecast
Keith Bachman
BMO Capital
Hold
2024-10-18
Price Target
$23 → $25
Upside
+11.14%
BMO Capital raised the firm's price target on Infosys to $25 from $21 and keeps a Market Perform rating on the shares after its Q2 results. Despite weakness in large deal total contract value - TCV - against a difficult compare, the company sounded more bullish on the demand environment and notably for smaller deals, the analyst tells investors in a research note. BMO adds that the early signs of improvement at Infosys are encouraging for the industry, though "one quarter does not make a trend".
