RDY Price Prediction Next Week
Technical Analysis:
Based on the recent price action, RDY has shown a clear downward trend, with the stock falling from $14.95 to $13.30, representing a decline of approximately 11%. The technical indicators suggest bearish momentum:
- RSI (14) at 33.50 indicates oversold conditions but hasn't shown reversal signals yet
- MACD is negative at -0.32 with bearish crossover
- Stochastic RSI at 9.48 shows extremely oversold conditions
Price Levels Analysis:
Key Fibonacci levels for next week:
- Resistance: $13.94 (R1), $14.15 (R2)
- Support: $13.29 (S1), $13.08 (S2)
- Pivot: $13.61
News Impact:
Recent Q3 earnings report showed:
- Revenue increased 16% to $977 million
- Net income slightly up at $165 million
- Stock fell 5.80% following earnings due to:
- Price erosion concerns
- Lower sales in North America
- Sequential decline of 9% in North American revenue
Price Prediction for Next Week:
Based on technical analysis and recent news sentiment:
- Most likely scenario (60% probability): Further decline to $13.08 (S2)
- Key reasons:
- Bearish momentum on technical indicators
- Negative reaction to earnings
- Price erosion concerns in North American market
- Volume analysis shows selling pressure
Trading Recommendation: SELL
Entry: Current price ($13.30) Target: $13.08 Stop Loss: $13.94 (R1)
The combination of weak technical indicators, negative earnings reaction, and ongoing price erosion concerns suggests further downside potential in the near term.
RDY Similar Chart Price Prediction
The price of RDY is predicted to go up -14.78%, based on the high correlation periods with TCBI. The similarity of these two price pattern on the periods is 97.99%.
RDY
TCBI
Down: -14.78%Similarity: 97.99%
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RDY VS S&P500
Generic versions of sizable drugs like Revlimid and Vascepa will help fuel Reddy's top line.
Biosimilars are poised to show promising growth as many big-name biologics lose their patents in the next five years, and Dr. Reddy's is well positioned to enjoy this trend with its pipeline.
Dr. Reddy's strong branded generic presence in emerging markets provides significant growth opportunities with less price competition than typically seen in developed markets.
