ITC Share Price: Initiatives in Cigarette Manufacturers Cause a Rise
ITC Share Price today is 204,55 USD with a volume of 23.567.549. At the same time, its chart fluctuates between 202,50 USD – 206,45 USD. ITC Share Price was a maximum of 239,20 USD and a minimum of 163,35 USD within 52 weeks. Its average volume on MarketCap charts is ranked as 32,831,976 and 251,777. The target point of ITC Share Price at the end of 1 year is not clear yet. Face value of the share is 1 and dividend yield of the share is 5,26. Its book value per share is 49,31.
ITC Share Price dropped 1.06% in the last day, from $207.85 to $205.65. During the day, the stock fluctuated by 1.46% from the day’s low of $25.00 to the day’s high of $208.00. Price has fallen for 5 days in the last 10 days. There was a 1.65% decrease in total for this period.
The price fell, although volume saw an increase of 1 million shares in the last day. The opposite direction of volume and price is not good for technical analysis and can be a risk. We can take this as an early warning and the risk may increase slightly over the next few days. In total, 21 million shares were traded for approximately $4.41 billion.
ITC stock price is in the middle of a downtrend in short-term trading. Also, there are more bearish signals within the trend. Considering the current short-term trend, the stock could drop 3.12% in the next 3 months and priced between $189.90 and $208.39 at the end of this quarter.
ITC Limited, based in Kolkata, West Benga, is an Indian company. ITC provides services in many sectors such as cigarettes, FMCG, hotels, packaging, cardboard and specialty papers, and agribusiness. The company has a total of 13 businesses in 5 segments. In addition, ITC exports its products from many countries.
They originally founded the company in 1910 as the Imperial Tobacco Company of India Limited. The company subsequently changed its name to India Tobacco Company Limited in 1970 and then changed once again to I.T.C. in 1974. The last and current name is ITC Limited. In this naming, ITC is a name, not an abbreviation.
In 2010, the company celebrated its 100th anniversary. The company has a 2019-20 annual turnover of 10.74 billion USD and a market capitalization of 35 billion USD. It has more than 36,500 employees across India. In addition, it is part of the Forbes 2000 list.
Analysis of ITC Share Price
There is little to no positive signal for ITC share price at the moment. ITC Limited stock holds inbound sell signals for both short and long-term trades. This means a more negative signal for the stock.
On the upside, there may be some resistance at $208.22 and $207.60. A break above these levels will give buying signals.
A sell signal was issued from the pivot apex on May 31, 2021. On top of that, there has been a 5.06% drop so far. We may observe further declines until we get a new low pivot.
There is currently a sell signal from the 3-month Moving Average Convergence Divergence. Volume is up, although prices fell yesterday. This could be an early warning, and you should watch the stock a little more.
How Should We Act?
ITC share price finds support at $205.35 from backlog volume. An upside reaction is expected as support is tested. This level can hold a buying opportunity for investors.
Generally, they consider this stock very low risk with little volatility and good liquidity. Over the last day, the stock has fluctuated by $3.00, or 1.46%, between the high and low. Last week, this rate was 1.23%.
Analysts did not give any stop-losses as this was a negative assessment for the stock.
It is not investment advice. Do your own research and tailor your investment accordingly