YES Bank share price: The 14-day relative strength index (RSI) for the stock was 48.85. A value less than 30 is considered oversold, while a value more than 70 is considered overbought. The stock of the corporation has a price-to-equity (P/E) ratio of 64.33. It has a price-to-book ratio (P/B) of 1.13.
YES Bank Ltd shares have increased by about 25% in the last year. Nonetheless, the stock has dropped approximately 26% year to date (YTD). It was last seen selling 0.06 percent higher today at Rs 16.06.
- At this price, it was 35.11 percent lower than its one-year high of Rs 24.75, which was reached on December 14, last year. Nonetheless, it has risen 27.87% since its 52-week low of Rs 27.86 on July 1, 2022.
- According to the technical setup, analysts believe the stock is ‘bearish’. The counter could find support at Rs 15.70, followed by Rs 15, Rs 14.50, and Rs 14.
In terms of levels, the stock is likely to find immediate opposition from the 200-SMA (Simple Moving Average), which is located around the Rs 17-odd zone, followed by a negative gap of Rs 18.60-19.65 in the same period.
- In the short term, a daily close above this resistance could lead to a goal of Rs 19.80. The support level will be Rs 15.70.”
- investors should take advantage of this opportunity to liquidate the stock because there could be another correction in the coming weeks, pushing the counter much lower to Rs 15 levels.”
- “YES Bank is trading at an important level of Rs 16 and right now it’s looking bearish,” stated VLA Ambala, Research Analyst at Stock Market Today.
CONCLUSION
Furthermore, rating agency Moody’s maintained its ratings on four of YES Bank’s instruments while granting the private lender a’stable’ credit outlook. Moody’s reaffirmed YES Bank’s long-term foreign currency issuer rating of Ba3, long-term (local and foreign currency) deposit rating of Ba3, baseline credit assessment (BCA) and adjusted BCA at b1, and senior unsecured (Foreign Currency) medium-term note programme rating of (P)Ba3.
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