Vedanta's price range turn bullish
On 2024-03-01, a change occurred in the market expectations for Vedanta Limited (VEDL)'s earnings as it prepares for its next results.
Earnings estimates play a role in assessing a company's ability to pay dividends, a crucial factor for income-focused investors Average EPS has been revised down to 17.96 by 12 analysts. Previously, it was 18.44.
The lower end of yearly EPS is expected to be at 7.1 for the period that ends on 31-03-2024 and the higher band at 30.6, with the average EPS expected to come in at 17.96, which is an decrease of about -0.379 from the EPS of 28.92 from a year ago. Additionally the average revenue is expected to be at 1354020000000 with the lower end expected at 1094630000000 and higher end at 1461000000000 which is an decrease of about -0.069 from the revenue of 1454040000000 from a year ago.
After such a decrease in estimates, investors typically aim to move quickly to either close existing positions or open short positions before the next results.
VEDL's price projections experienced an adjustment on 2024-03-01.
In their comprehensive research reports, analysts furnish investors with a price range for a specific stock, offering valuable insights for investment strategies.
Insights from a panel of 13 financial experts suggest that VEDL's future price is expected to fluctuate between 230.0 and394.0, with the mean forecast hovering around 298.38.
Technical Summary
The current price of 282.85 finds support at 282.3 and resistance at 282.3. The recent price move is approaching support.
The PSAR continues to be bullish in its current outlook.
The stochastic indicator is in a bullish mood where K-line is above the D-line and the K-line is above 80.
The moving averages for 20-50-100 are aligned bearishly but the slopes for the 20/50 SMAs are starting to waver, indicating a possible move to a bullish price action soon.
